Infodata Posts Higher Quarterly Earnings; More Headlines...

---Wednesday's Briefs---

The Army Research Laboratory named John Miller director of the Adelphi, Md., facility. He has been ARL's acting director since March 2003. [Army Research Laboratory]

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Digital Evolution says it raised $15 million from investors including District-based Paladin Capital Group. Digital Evolution, a Web services security and management software firm, is based in Santa Monica, Calif. [Paladin Capital Group]

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Computer Sciences, an El Segundo, Calif., information technology company with a large presence in the Washington area, earned $110.4 million (58 cents a share) on $3.7 billion in revenue in its first fiscal quarter ended July 2. In the same quarter last year, it posted a profit of $92.3 million (49 cents) on $3.6 billion in revenue. CSC acquired Dyncorp, a Reston contractor, in March 2003. [Computer Sciences]

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Essex, a Columbia company that designs optical components used for defense communications purposes, earned $480,000 (3 cents a share) on $20.6 million in revenue in its second quarter. Those results are up from a profit of $75,000 (1 cent) on $4.2 million in revenue in the year-ago quarter. For the six months ended June 27, the company earned $792,000 (5 cents) on $34.8 million in revenue. In the same period last year, Essex posted a profit of $54,000 (1 cent) on $7.2 million in revenue.

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Spherix, a Beltsville biotechnology company, earned $192,257 (2 cents a share) on $6.8 million in revenue in its second quarter. That compares with a loss of $453,075 (4 cents) on $4.8 million in revenue in the same quarter of 2003. For the six months ended June 30, the company lost $355,144 (3 cents) on $11.8 million in revenue. In the same period last year, it lost $1.1 million (10 cents) on $9.2 million in revenue. Shares of Spherix closed at $4.11, down 25 cents. [Spherix]

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---Tuesday's Briefs---

XO Communications, a Reston telecommunications company, lost $43.8 million (31 cents a share) on $278.2 million in revenue during the second quarter, compared with a loss of $19.8 million (21 cents) on $283.9 million in revenue a year earlier. For the six months ended June 30, the company lost $92.3 million (67 cents) on revenue of $539.1 million, compared with a loss of $40.3 million (42 cents) on $570 million a year earlier. XO also said it raised $200 million through a private offering to XO shareholders of 6 percent convertible preferred stock. Affiliates of Carl C. Icahn, XO's chairman and owner of about half of XO's outstanding common stock, purchased $190 million of the preferred stock, and an affiliate of Amalgamated Gadget, holder of 9.4 percent of XO's outstanding common stock, purchased an additional $10 million. Each share of preferred stock is initially convertible at $4.62 per share into 10.82 shares of XO common stock. Shares of XO closed up 6 cents, at $3.75. [XO Communications]

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Novavax, a Columbia biopharmaceutical company, lost $7.7 million (22 cents a share) on $3 million in revenue during its second quarter, compared with a loss of $5 million (17 cents) on $2.3 million in revenue during the same quarter a year ago. For the six months ended June 30, the company lost $13 million (37 cents) on $6.2 million in revenue, compared with a loss of $10.8 million (38 cents) on $3.5 million last year. Shares of Novavax closed down 14 cents, at $3.72. [Novavax]

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VCampus, a Reston online education company, lost $2.3 million (34 cents a share) on revenue of $1.5 million, compared with a loss of $743,659 ($1.09) on $1.6 million revenue in the same period a year ago. For the six months ended June 30, the company lost $3.1 million (51 cents) on revenue of $3 million, compared with a loss of $1.8 million ($2.12) on $3.3 million last year. [VCampus]

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AAI, a Hunt Valley subsidiary of United Industrial, won a five-year, $160 million contract from the Defense Department to provide logistic support for joint service biological detection systems at U.S. facilities around the world. Under the terms of the contract, AAI will provide operation, maintenance and total supply support services for biological detection systems at more than 50 U.S. Army, Navy and Air Force locations in the Middle East, Europe and Asia. [AAI]

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Hanger Orthopedic Group, a Bethesda maker of prosthetic devices, said it was delaying release of its earnings from yesterday until Monday "in order to complete certain accounting reviews. These accounting matters have no relation to the allegations of billing discrepancies at the patient care center in West Hempstead, N.Y., and preliminary findings of the independent investigation are being announced in a separate news release." [Hanger Orthopedic Group]

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