BUSINESS DIGEST

The Baltimore Sun

Maryland : Earnings

Gene Logic loss narrows

Gene Logic Inc.'s loss narrowed to $7.9 million, or 25 cents per share, for the quarter ending June 30, down 30 percent from the corresponding quarter of 2006, when the Gaithersburg biotech posted a loss of $11.3 million, or 35 cents per share. Revenue for this year's second quarter rose 15 percent to $5.4 million, from $4.7 million last year.

Tricia Bishop

Laureate profit up 25% to $52.8 million

Laureate Education Inc., the operator of online and foreign universities whose management-led buyout is expected to close in mid-August, said yesterday that second-quarter net income available to common shareholders rose 25 percent to $52.8 million, or 98 cents per diluted share, from $42 million, or 79 cents per diluted share, a year ago. Earnings for the three months ending June 31 included costs related to the transaction and an accounting change for minority share ownership purchase agreements. Excluding such charges, the company said adjusted income from continuing operations was $62.6 million, or $1.17 per share. Revenue increased 24 percent to $375.8 million from $303 million on higher student enrollment.

Hanah Cho

Investing

JMI Equity raises $600 million

JMI Equity, a private equity firm based in Baltimore and San Diego, said yesterday that it raised $600 million for its sixth fund. The fund's general partners plan to invest $10 million to $50 million in software and business services companies. The fund made its first investment this month in Appriss Inc., which provides software applications.

to law enforcement agencies. Investors in the fund, which is closed, include pension funds, endowments and financial institutions.

Laura Smitherman

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