Maryland : Earnings, United Industrial profit rises 43.3%
Hunt Valley-based United Industrial Corp. reported strong third-quarter sales and earnings yesterday. United Industrial, whose subsidiary AAI Corp. manufactures military drones, saw net income rise 43.3 percent to $9 million, or 75 cents per diluted share, from $6.2 million, or 48 cents per share, during the corresponding period a year ago. Sales grew 27 percent to $166.9 million from $131.4 million during the year-ago period.
Tourism officials to swap ideas
Tourism officials will gather next week at the Maryland Governor's Tourism Industry Conference to hear an industry forecast and swap ideas for marketing the state. The 27th annual event will be held Wednesday through Friday at the Holiday Inn Select Solomons in Southern Maryland. Louisiana's assistant secretary of culture, recreation and tourism will speak about rebuilding that state's tourism industry after Hurricane Katrina in 2005. Information: 410-974-4473.
Jamie Smith Hopkins
UPS to increase rates about 4.9%
UPS, the world's largest shipping carrier, said yesterday that it would increase rates for ground, air express and international shipments that originate in the United States by an average 4.9 percent, effective Dec. 31.
Oil field found off Brazil's coast
A vast offshore oil discovery and promising fields near the find could help Brazil join the ranks of the world's major exporters, but full-scale extraction is unlikely until 2013 and will be very expensive. The "ultra-deep" Tupi field off the coast of Rio de Janeiro could hold as much as 8 billion barrels of recoverable light crude, and initial production should exceed 100,000 barrels daily, though experts believe the amount will then go much higher. State oil company Petroleo Brasileiro SA will start pilot pumping in 2010 or 2011 but it will take several more years for full production to get under way, at a cost of billions of dollars.
This column was compiled from dispatches by Sun reporters, the Associated Press and Bloomberg News.