An item in the May 27 Business section incorrectly stated Convera Corp.'s revenue for the first quarter of its fiscal year, ended April 30. Revenue rose to $8.2 million, from $7 million in the same quarter a year earlier. (Published 5/28/04)
Convera Corp., a Vienna software company, said its loss narrowed for the first quarter of its fiscal year ending April 30 to $4.8 million (14 cents a share) from $5.9 million (20 cents) a year ago. Revenue rose to $5.9 million from $4.2 million.
Anteon, a Fairfax defense contractor, won a 10-year, $254 million contract to provide engineering services to the U.S. Navy Fleet Technical Support Center, Atlantic. Anteon will provide services to support platform and on-board system modernization activities for U.S. Navy, Coast Guard and Military Sealift Command vessels.
CACI, an Arlington defense contractor, won a five-year, $88 million contract from the U.S. Navy Expeditionary Warfare, Ship Self Defense System Division at the Naval Surface Warfare Center in Port Hueneme, Calif. CACI will support the Navy's Integrated Ship Defense program at shore sites, land-based test facilities, shipyards and aboard ships in port and at sea.
TNS, a Reston data communications company that specializes in point-of-sale transactions and e-commerce services, acquired certain assets of U.S. Wireless Data, a New York-based company that filed for bankruptcy in March. The acquired assets include the Synapse platform, a wireless point-of-sale service used by taxi, limousine and towing companies, as well as other mobile merchants. Terms were not disclosed. It is TNS's first acquisition since its initial stock offering in March.
Nextel Communications, Reston, the fifth-largest U.S. mobile phone company, will have its credit ratings on about $10 billion in debt reviewed by Moody's Investors Service, the debt rating agency said. Nextel's senior implied debt is rated Ba3, three levels below investment grade. Moody's raised Nextel's rating from B1 in July. This review was prompted by Nextel's "continuing operational and financial outperformance," Moody's said. Shares of Nextel closed at $22.51, up 11 cents.
Mantech International Corp., a Fairfax defense technology contractor, said it lowered its forecast for earnings per share for 2004 to a $1.17 to $1.21 range, from $1.38 to $1.42. For the second quarter, the forecast for earnings falls to between 13 and 15 cents a share, from a range of 32 to 34 cents. The revenue forecast falls to a maximum $201 million from $208 million.
Compiled from reports by Washington Post staff writers and Bloomberg News.