Trex Sales Rise as Profit Shrinks
Trex, a Winchester company that makes simulated wood decking and railing, had a profit of $5.2 million (35 cents a share) in the third quarter, down 27 percent from $7.1 million (48 cents) in the corresponding quarter a year earlier. Sales were up 20 percent, to $77.4 million from $64.4 million.
The company said increased sales were driven by "strong acceptance" of new premium decking products, but profit continued to be undercut by the high price of plastic raw materials and by fixed costs at plants where it had idled production lines.
Anteon's Net Grows 24 Percent
Anteon International, a Fairfax-based information technology services provider whose biggest customer is the federal government, said third-quarter profit rose 24 percent, to $21 million from $16.8 million last year, lifted by several large orders from the military. Revenue rose 17 percent, to $382.1 million.
Anteon stock closed at $46, up $2.22, or 5 percent. It projected earnings of at least $2.10 per share on sales of $1.49 billion to $1.5 billion, for all of 2005, up from its July estimate of earnings of at least $2.01 per share on sales of $1.47 billion to $1.49 billion.
CACI International, an Arlington defense contractor, said first-quarter profit grew 4.3 percent, to $19.1 million (62 cents) from $18.3 million (61 cents) in the corresponding quarter last year. Revenue increased 9 percent, to $423.1 million from $388.7 million. The quarter reflected new accounting rules requiring treatment of stock options as an expense. The company described contract awards in the three months as a record, at $800 million, about half from new business.
PRA International of Reston, which provides drug development services for biotechnology and pharmaceutical companies, reported a 54 percent increase in third-quarter earnings, to $9.2 million (38 cents) from $6 million (29 cents) a year earlier. Revenue increased 7 percent, to $83.2 million from $77.9 million. Shares closed at $27.15, down 5 percent.
The Advisory Board, a District firm that provides research to the health care industry, reported for its second quarter ended Sept. 30 a 19 percent profit increase, to $7 million (35 cents) from $5.9 million (31 cents). Revenue increased 17 percent, to $40.5 million from $34.7 million.
Hanger Orthopedic Group, a Bethesda provider of orthotic and prosthetic medical devices, had a profit of $4.3 million (13 cents) in the third quarter, compared with a loss of $34.9 million ($1.68) a year earlier, when the company took a one-time charge of $45.8 million to reflect allegations of improper billing at a West Hempstead, N.Y., patient-care center. Sales for the quarter were essentially flat at $146.4 million, compared with $146.1 million.
T. Rowe Price Group said third-quarter profit jumped 41 percent, to $116.3 million from $82.5 million a year earlier, in a period anchored by stronger advisory-fee business as the firm's mutual funds continued to make gains. The firm's investment advisory performance pushed revenue 23 percent higher, to $388.7 million. Assets under management increased to a record $257.6 billion on Sept. 30, up $22.4 billion from the end of 2004.
Corporate Office Properties Trust, a Columbia-based real estate investment trust, reported funds from operations of $22.1 million (47 cents) for the third quarter, compared with $17.4 million (39 cents) a year earlier. Revenue increased 55 percent, to $92.8 million from $59.7 million. Profit was $10.6 million (18 cents), up from $9.8 million (12 cents).
Washington Real Estate Investment Trust, which is based in Rockville, reported funds from operations of $22.4 million (53 cents) for the third quarter, up from $21.3 million (51 cents) a year earlier. Revenue increased 14 percent, to $49.3 million from $43.3 million. The company earned $13.5 million (32 cents), up from $10.8 million (26 cents).
Compiled from staff and news service reports.