- The Washington Times - Friday, August 10, 2007

Regional

U Sinclair Broadcast Groupof Hunt Valley, Md., said three of its stations are being investigated for airing material that might violate Federal Communications Commission rules. The inquiries involve stations in upstate New York, Ohio and Richmond, where WRLH-TV is accused of broadcasting indecent material in an advertisement. Sinclair denied the charges.

U Arlington power producer AES Corp. said second-quarter profit rose 41 percent. Net income climbed to $247 million (36 cents a share) from $175 million (26 cents) a year ago. Sales rose to $3.34 billion from $2.86 billion.

U A federal judge appointed a trustee to sell Mittal Steel’s Sparrows Point mill near Baltimore to settle antitrust concerns. The trustee, Joseph G. Krauss, could approve the planned sale of the mill to a global group led by Esmark for a reported $1.35 billion.

U Fairfax federal consultant SRA International Inc. said it completed the acquisition of Constella Group, a privately held global provider of health consulting services, with a presence in the Washington area. Terms were not disclosed. Constella reported 2006 sales of $169 million.

U Wireless-services providers Brightstar of Miami and InPhonic of the District said they signed a letter of intent to explore a strategic alliance, under which Brightstar would acquire InPhonic assets, become InPhonic’s exclusive provider of hardware and certain services and make a $5 million investment in InPhonic.

U Lockheed Martin of Bethesda said it will refund the Defense Department roughly $265 million for inadvertently over-billing on the F-35 Joint Strike Fighter. The company said it discovered the accounting glitch earlier this week and notified Pentagon officials immediately.

U Medifast of Owings Mills, Md., said net income for the second quarter fell to $909,000 (7 cents) from $1,448,000 (11 cents) a year ago. Sales rose 10 percent to $22 million.

U WidePoint Corp., a technology firm in Fairfax, said its net loss for the second quarter ended June 30 narrowed 99 percent to $772 (0 cents per diluted share) from $229,601 (1 cent) the previous year.

U Tier Technologies, a Reston software and financial processing firm, said its net loss for its third quarter ended June 30 grew 256 percent to $5.7 million (32 cents) from $1.6 million (8 cents) a year ago.

U ICF International, a Fairfax technology consulting firm, reported second quarter net income of $11.2 million (75 cents), compared with a net loss of $1.4 million (15 cents) the previous year.

U Worldspace Inc., a satellite radio company in Silver Spring, said its net loss for the second quarter ended June 30 widened 39 percent to $51 million ($1.30) from $36.6 million (98 cents) a year ago.

U Gannett Co. of McLean, the largest U.S. newspaper publisher, amended several of its compensation plans to accelerate payments if the company is sold. The changes may signal that Gannett, owner of USA Today, is considering a leveraged buyout or takeover using an employee pension fund, an analyst said.

National

U Fired employees of American Home Mortgage Investment, the second-biggest mortgage lender in bankruptcy, sued the company for back wages, claiming they were terminated without the required 60-days notice. Attorneys filed the suit Wednesday on behalf of two former workers and sought to certify the case as a class action representing about 4,000 employees.

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