Roundup: XM, NCI, Online Resources
From staff and wire reports
*XM Satellite Radio and Sirius Satellite Radio said they have completed their long-pending merger.
The combined company plans to use the name Sirius XM Radio. Its stock will continue to be traded on the Nasdaq under the ticker symbol SIRI. They first announced their deal in March 2007. XM shareholders will receive 4.6 shares of Sirius common stock for each share of XM.
The corporate headquarters will be located in New York, and XM Satellite Radio will remain based in the District.
*NCI of Reston said second-quarter profit grew 35.2 percent, to $4.1 million (30 cents) from $3 million (22 cents) in the comparable period a year earlier. Revenue grew 44.4 percent, to $96.3 million.
The company, which provides IT, engineering and other services to the government, said its backlog grew to $994 million at the end of the quarter, compared with $755 million at the same time last year. $156 million of the $994 million is funded.
*Online Resources of Chantilly said it posted a second-quarter loss of $974,000 (11 cents), compared with a profit of $970,000 a year earlier. Revenue grew 16 percent, to $37.2 million.
The company, a provider of Web-based financial services, said revenue growth was lower than expected. "We are still seeing healthy growth, but we are not completely immune to struggles in the banking sector and the broader economy," said Matthew P. Lawlor, chief executive of Online Resources.
July 29, 2008; 4:34 PM ET
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