Archive: April 27, 2008 - May 3, 2008

Washington Post Co. Profit Drops 39 Percent

By Frank Ahrens The Washington Post Co. reported a 39 percent decline in first-quarter profit yesterday, as the company was hit by a large one-time charge at its Newsweek magazine and the continued slump at its newspaper division. For the first three months of the year, The Post Co. reported...

By Terri Rupar | May 2, 2008; 5:34 PM ET | Comments (0)

MicroStrategy Profit Falls; ComScore Shares Up

*MicroStrategy said last night that first-quarter profit fell about 16 percent, to $8.3 million (67 cents a share) from $9.8 million (75 cents) in the comparable period a year earlier. Revenue for the McLean company grew 20.5 percent, to $83.5 million. MicroStrategy said it was the 21st consecutive quarter of...

By Terri Rupar | May 2, 2008; 11:52 AM ET | Comments (0)

Early Briefing: On the Joint Strike Fighter

(By Eric A. Clement -- U.S. Navy) *Lockheed Martin of Bethesda is the lead contractor on the Pentagon's $300 billion Joint Strike Fighter program. A report from the Pentagon's inspector general yesterday said that the technology going into that fighter plane may have been compromised by unauthorized access to...

By Terri Rupar | May 2, 2008; 5:00 AM ET | Comments (1)

Earnings: ComScore, Liquidity Services, Sourcefire

From staff and wire reports *ComScore of Reston said first-quarter profit surged 64 percent, to $2.5 million (8 cents a share) from $1.5 million (no cents) in the comparable period a year earlier, to top Wall Street expectations on strong subscription revenue and raised its sales outlook for the full...

By Terri Rupar | May 1, 2008; 7:03 PM ET | Comments (0)

Roundup: Novavax, Micros, Sprint

From staff and wire reports *Vaccine maker Novavax said it opened its first plant that will be used to manufacture vaccines for infectious diseases in the United States. The $5 million, 5,000-square-foot facility at the company's headquarters in Rockville will focus on producing flu vaccine for Novavax's clinical programs, with...

By Terri Rupar | May 1, 2008; 3:42 PM ET | Comments (0)

Earnings: Dominion, United Therapeutics, Vanda

*Dominion Resources of Richmond said its first-quarter profit surged 50 percent, to $680 million ($1.18 a share) from $453 million (65 cents) in the comparable period a year earlier, on strength in its generation business and higher volumes and prices in its exploration and production segment. Revenue fell 6 percent,...

By Terri Rupar | May 1, 2008; 11:12 AM ET | Comments (0)

Downtown Tennis

From our friend Liz Clarke in the sports dept: Rather than the traditional ribbon-cutting, it was a deftly placed forehand lob that inaugurated the soon-to-be home court of the Washington Kastles, the city's new professional sports team, yesterday. And it was hardly surprising that the ball arced precisely as intended,...

By Dan Beyers | May 1, 2008; 7:54 AM ET | Comments (0)

Early Briefing: Celebration Over Dulles Extension

Dinegar *News that the federal government had decided to let the Dulles rail go through pleased business and transportation leaders. "We're all celebrating today," said Eileen Curtis, president of the Dulles Regional Chamber of Commerce. Jim Dinegar, president and chief executive officer of the Greater Washington Board of Trade,...

By Terri Rupar | May 1, 2008; 5:00 AM ET | Comments (0)

Earnings from CACI, ManTech and Optelecom-NKF

Optelecom-NKF, ManTech and CACI International all reported earnings after the market's close. *CACI of Arlington said third-quarter profit rose 20.9 percent, to $22.3 million (73 cents a share) from $18.4 million (59 cents) in the comparable period a year earlier. Revenue rose 34.1 percent, to $634.2 million. The contractor said...

By Terri Rupar | April 30, 2008; 5:47 PM ET | Comments (0)

Roundup: Sucampo, SRA, Post, XM

*Shares of Bethesda-based Sucampo Pharmaceuticals jumped 18 percent today, to close at $14.32, after the company said it will receive a $50 million payment from partner Takeda Pharmaceutical now that the Food and Drug Administration expanded approved use of constipation drug Amitiza. The drug is now approved to treat irritable...

By Terri Rupar | April 30, 2008; 5:38 PM ET | Comments (0)

AvalonBay FFO Rises, Micros Systems Profit Up

From staff and wire reports *AvalonBay Communities of Reston, the second largest U.S. real estate investment trust that owns, operates and develops apartments, said first-quarter funds from operations rose almost 8 percent, to $92.1 million ($1.24 a share) from $89.1 million ($1.11) in the comparable period a year earlier, as...

By Terri Rupar | April 30, 2008; 5:25 PM ET | Comments (0)

Fauquier Bankshares Profit, Assets Fall

Fauquier Bankshares of Warrenton said profit fell 14 percent, to $1 million (28 cents a share) from $1.2 million (33 cents) in the comparable period a year earlier. Assets fell 3.5 percent, to $490.5 million. Fauquier's provision for loan losses in the first quarter was $336,000 more than the year-earlier...

By Terri Rupar | April 30, 2008; 1:43 PM ET | Comments (0)

Higher Tuition, Enrollment Boost Strayer

From the Associated Press Strayer Education of Arlington, a for-profit education provider, said its first-quarter profit grew 25 percent, to $23.5 million ($1.64 a share) from $18.8 million ($1.30) in the comparable period a year earlier, on increased tuition and enrollment. Revenue rose 21 percent, to $97.1 million. The company...

By Terri Rupar | April 30, 2008; 11:35 AM ET | Comments (0)

Constellation Profit Falls 26 Percent

From the Associated Press Constellation Energy Group of Baltimore said its first-quarter earnings fell 26 percent, to $145.7 million (81 cents a share) from $195.7 million ($1.07 in the comparable period a year earlier, the dragged down by its merchant energy unit. Revenue fell 6 percent, to $4.83 billion. The...

By Terri Rupar | April 30, 2008; 10:33 AM ET | Comments (0)

Early Briefing: What United-US Airways Could Mean Here

(Elaine Thompson - Associated Press) *Northwest and Delta are merging, and Continental spurned United last weekend. So now United and US Airways are talking, a tieup that has been rejected before. A combined United-US Airways would be smaller than Delta-Northwest, but it would handle more than half of departures...

By Terri Rupar | April 30, 2008; 5:00 AM ET | Comments (0)

Roundup: GD, Lockheed, Allied Capital, CSC

From staff and wire reports *Poor management by the Defense Department and General Dynamics has led to billions of dollars in cost overruns and years of delays for a key Marine Corps tank program, a congressional panel said. The House Committee on Oversight and Government Reform found that major development...

By Terri Rupar | April 29, 2008; 7:01 PM ET | Comments (1)

Value Added: From Tennis Teacher To Running The Club

Gary Henkin's immersion into the business side of the fitness craze reminds me of the advice one of my former editors, Doug Feaver, once gave me. Feaver, who was one of the kinder and smarter editors I was privileged to work for, said if I wanted to be an...

By Dan Beyers | April 29, 2008; 12:55 PM ET | Comments (0)

Profit Drops at SI International

SI International of Reston said first-quarter profit fell 27.5 percent, to $3.4 million (26 cents a share) from $4.7 million (36 cents) in the comparable period a year earlier. Revenue in the three months ended March 29 grew 18.2 percent, to $134.4 million. The company said business with civilian agencies...

By Terri Rupar | April 29, 2008; 12:39 PM ET | Comments (0)

Under Armour Profits Down 71 Percent

Associated Press Sports apparel maker Under Armour Inc. said Tuesday its first-quarter profit tumbled 71 percent, weighed down by increased marketing expenses, but beat Wall Street's expectations. For the quarter ended March 31, the company reported income of $2.9 million, or 6 cents per share, compared with $9.9 million,...

By Dan Beyers | April 29, 2008; 10:24 AM ET | Comments (0)

Early Briefing: NY Investment Firm Buys Potomac College

* Hamilton White Group, a New York investment and advisory firm, acquired District-based Potomac College for an undisclosed amount. Potomac College's curriculum is tailored for working adults, and it offers Bachelor of Science and Associate of Science degree programs, as well as certificate programs. * Lockheed Martin of Bethesda has...

By Dan Beyers | April 29, 2008; 7:09 AM ET | Comments (0)

Up and Down: Vanda, Corporate Executive Board, FBR

Stocks nationwide rose last week, with the S&P 500 hitting a three-month high. *Shares of Vanda Pharmaceuticals of Rockville (VNDA) went up 12 percent last week, closing at $3.99. Just last month, on March 17, shares of the biotech hit their 52-week low of $2.70. The biggest jump came Friday,...

By Terri Rupar | April 28, 2008; 12:00 PM ET | Comments (0)

Mars To Buy Wrigley For $23 Billion

UPDATE 12 noon: From the Associated Press: Snickers and M&Ms candy maker Mars Inc. is buying Wm. Wrigley Jr. Co., which makes Juicy Fruit and Doublemint gum and Life Savers, for about $23 billion in cash. The agreement announced Monday has the potential to transform the globe's confectionary industry and...

By Dan Beyers | April 28, 2008; 7:26 AM ET | Comments (0)

Early Briefing: How to Keep Building Homes

It's Monday, which means the Business section is all local. (By Tracy A. Woodward -- The Washington Post) *NVR of Reston is still posting profits in the current housing downturn. It learned its lesson in the last one, when it filed for bankruptcy protection. Now its business plan is based...

By Terri Rupar | April 28, 2008; 5:00 AM ET | Comments (0)

 
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