Earnings: RCN, Argon ST, GTSI, JER Investors Trust and Maximus
From staff and wire reports
*RCN of Herndon said its loss narrowed to $16.7 million (45 cents a share) from $79.8 million ($2.16) in the comparable period a year earlier, when the company took a loss of $63.9 million on the early extinguishment of debt. The provider of video, data and voice services said revenue rose 16 percent, to $184.4 million.
RCN forecast full-year sales of $730 million to $740 million. Analysts predict $735.4 million in revenue.
*Fairfax-based Argon ST said profit rose to $5.2 million (24 cents a share) from $4.3 million (19 cents). The company, which makes electronic systems for the Navy and other government customers, said fiscal third-quarter revenue climbed 13 percent, to $83.2 million.
During the quarter, Argon booked $143 million in new orders. As of the end of the quarter, it had a total backlog of $330 million.
*GTSI of Chantilly posted a second-quarter loss of $4.3 million (44 cents a share), compared with a loss of $3.6 million (38 cents). Revenue rose 1.7 percent, to $149.3 million. The company said it is focusing on big contracts and that quarterly operating expenses were the lowest since 2004.
*JER Investors Trust of McLean said second-quarter profit almost tripled, rising to $29 million ($1.13) from $10.1 million (39 cents). Revenue fell almost 5 percent, to $32.6 million.
*Reston-based Maximus reported a third-quarter profit, helped by the sale of two of the company's divisions. The consulting, systems and program management services company reported profit of $11.4 million (61 cents per share), compared with a loss of $14.4 million (65 cents). Results in the year-ago quarter were hurt by a $33 million legal settlement cost. Revenue climbed to $206.3 million from $189.7 million.
August 7, 2008; 12:48 PM ET
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