Energy

Exelon Extends USEC Contract

Bethesda-based USEC said it received a $400 million contract extension to supply uranium to Exelon Generation through 2012. The new contract expands a five-year, $700 million pact with the Exelon subsidiary that expires in 2010, the enriched-uranium supplier said. Exelon Generation operates 17 reactors in Pennsylvania, Illinois and New Jersey that produce about one-fifth of the nuclear-generated electricity used in the United States.

EARNINGS

Chindex Quarterly Loss Widens

Chindex International of Bethesda, which provides Western health care products and services in China, yesterday reported that it lost $2.1 million (38 cents a share) in its fourth quarter ended March 31, compared with a $484,000 (13 cents) loss in the year-ago quarter. The company reported revenue of $24.2 million, a 3 percent decrease from a year earlier, which it attributed to delay in opening its hospital in Shanghai and in offering products for the retail pharmacy business. For the year, the company lost $5.7 million ($1.06) on $100.8 million in revenue, compared with a loss of $2 million (53 cents) on revenue of $88.2 million a year earlier.

Litigation

Covance Rescinds Motion Against PETA

Covance, a contract research company, said it withdrew motions seeking a temporary restraining order and a preliminary injunction against People for the Ethical Treatment of Animals over the secret videotaping of animal conditions in a Vienna lab. Covance said the tapes show its handling of research animals is consistent with federal law as well as standards held by independent scientific research boards. PETA said the tapes prove workers abused monkeys housed at the lab.

COMPENSATION

Circuit City Chief Declines Options

The head of Richmond-based Circuit City Stores turned down a grant of 400,000 stock options but accepted 200,000 restricted shares, the company said.

The restricted-stock grant accepted by W. Alan McCollough, above, who serves as chairman and chief executive, is worth more than $3.3 million based on the yesterday's share price.

Circuit City said in a Securities and Exchange Commission filing that equity awards equal in value to the grant declined by McCollough will be set aside for "chairman's awards" for employees.

Compiled from staff and news service reports.

Maybe W. Alan McCollough, Circuit City's chairman, has enough toys. He just turned down a company grant of 400,000 stock options.