Roundup: ManTech, Human Genome Sciences, Lockheed

From staff and wire reports

*ManTech International of Fairfax said second-quarter profit grew 45 percent, to $21.9 million (62 cents a share) from $15.1 million (44 cents) in the comparable period a year earlier. Revenue grew 33 percent, to $465 million.

Its reported backlog as of June 30 was $3.44 billion, with $989 million funded. That's up from $746 million a year earlier.

*Human Genome Sciences of Rockville's second-quarter loss widened to $74.2 million (55 cents) from $51.3 million (38 cents). Revenue grew 38 percent, to $11.6 million.

*Lockheed Martin's $1.2 billion contract to provide human-resource services to the Transportation Security Administration has been protested by losing bidder Avue Technologies. Linda Rix, Avue's co-chief executive, said TSA followed rules and evaluated proposals improperly in selecting Lockheed, based in Bethesda. Avue filed the protest with the Government Accountability Office on Monday, and a ruling must be made in 100 days, Rix said.

*The head of LandAmerica Financial Group said the Glen Allen firm has sufficient capital after cutting its dividend 83 percent. "It's not a matter of liquidity; it's not that we don't have sufficient cash to pay a higher dividend," chief executive Theodore Chandler said. "It's more about the capital preservation desire that we have in this uncertain time. We believe that our shareholders, once they absorb this news, will accept the wisdom of that view."

By Terri Rupar  |  July 30, 2008; 4:44 PM ET  | Category:  Roundup
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