* TSI TelSys of Columbia said its board unanimously approved a non-brokered private placement of up to 5 million shares of common stock at nearly 13 cents each, for aggregate gross proceeds of up to $638,569. The private placement for TSI, which makes satellite data-processing systems, is expected to close by Dec. 20. TSI TelSys stock is listed on Canada's TSX Venture Exchange. Proceeds from the sale of the common shares will be used to develop TSI's new products, to expand its civil space support services, and to pay for general administrative costs. The company employs 35 people in Columbia.
* Duratek, a Columbia company that provides technologies to manage nuclear and radioactive waste, earned $3.9 million (20 cents per share) in the third quarter, compared with $921,000 (4 cents) in the same period of 2001. Quarterly revenue rose to $72.8 million from $66.7 million. Duratek shares rose 69 cents, to $6.69.
* Cysive, a Reston software company, lost $9.5 million (33 cents per share) in the three months ended Sept. 30, compared with $5.3 million (18 cents) in the year-earlier period. Third-quarter revenue fell to $1.1 million from $2.6 million. The company ended the period with $6 million in cash and cash equivalents. Cysive shares rose 6 cents, to $2.38.
* Via Net.Works, a Reston company that provides Internet services to businesses, named Rhett S. Williams chief executive. Williams was previously the executive vice president and chief marketing officer of KPNQwest. Outgoing chief executive Karl Maier will continue as president and chief operating officer of Via Net.Works.
* Opnet Technologies, a Bethesda firm that provides software to manage networks, said its third-quarter net income fell to $561,000 (3 cents per share), from $1.1 million (5 cents) in the same quarter of the previous year. Revenue dropped to $11.2 million from $11.3 million. The company ended the quarter with $65.6 million in cash and cash equivalents. Opnet shares rose 7 cents, to $8.
Compiled from reports by Washington Post staff writers, washingtonpost.com and Dow Jones News Service