LCC International Inc. of McLean said its net loss in the third quarter was $1.16 million, compared with a loss of $7.08 million in the same period of 1998. Last year's third-quarter loss included a $3.5 million charge from discontinued operations.
The company said total revenue declined 18 percent from 1998's third quarter, to $18.2 million. The telecommunications industry consulting firm said, however, that revenue was up from the second quarter of 1999. For the nine months, the company lost $6.2 million on revenue of $52 million, compared with a loss of $9 million on revenue of $66.7 million.
Equitable Bank, a Wheaton-based community bank, said its fiscal-year net income dropped 23 percent, to $2.4 million ($1.87 a share), from $3.2 million ($2.42) in the 1998 fiscal year. The prior year included a $1.1 million one-time gain from the sale of its headquarters building. Excluding the effect of the one-time gain, earnings rose 17 percent.
For the forth quarter ended Sept. 30, Equitable earned $593,000 (45 cents), compared with $367,000 in the same period in 1998. As of Sept. 30, the bank had assets of $439 million and had four branches.
Teligent Inc., the Vienna-based telecommunications company that last week received a $500 million investment from a group led by Microsoft Corp., lost $143.6 million in the third quarter on revenue of $10.3 million, compared with a loss of $78.6 million on revenue of $240,000 in 1998. The start-up company attributed the heavy losses to its rapid expansion and network construction costs.
Condor Technology Solutions Inc. of Annapolis lost $4.3 million on revenue of $49.5 million in the third quarter, compared with earnings of $3 million (26 cents) on revenue of $45 million a year earlier. The 1999 quarter included a $3 million restructuring charge.
For the nine months, the national technology consulting company lost $33.8 million on revenue of $162.6 million, compared with earnings of $2 million (20 cents) on revenue of $114.4 million in 1998.