* Terabeam Wireless of Falls Church said yesterday that it bought back 4.18 million shares of its common stock, or about 15.5 percent of outstanding shares, for $6.5 million from its former president and chief technology officer Michael F. Young. Young is no longer affiliated with the company. Terabeam's chief executive, Robert Fitzgerald, said the company wanted to reduce the number of shares it had on the market. Terabeam, which is the new business name for YDI Wireless, sells wireless Internet, video and network connections using unlicensed wireless technology.
* Versar, a Springfield environmental health and safety company, earned $461,000 (6 cents a share) on $17.4 million in revenue in its fiscal fourth quarter ended June 30, compared with profit of $519,000 (7 cents) on $14.4 million in revenue in the corresponding quarter a year ago. For the year, the company earned $1.2 million (16 cents) on $60.5 million in revenue, compared with a loss of $1 million (14 cents) on $57.1 million in revenue in fiscal 2003. The company attributed its improved results to restructuring and focusing on the federal marketplace. Shares of Versar closed unchanged at $3.82.
Compiled from reports by Washington Post staff writers.