NEWS SUMMARY – Updated 12:50 A.M.

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Updated items in italics.Aether helps deliver the newsThe Newspaper Association of America, based in Vienna, Va., has partnered with Owings Mills-based Aether Systems Inc., a provider of wireless data products and services, to launch a pilot project aimed at helping newspapers determine how best to serve their readers with mobile news and information. The project will establish a “Local News Gateway” – a central index hosted at Aether’s network operations center – through which users will be able to access content from multiple participating newspapers via phones and personal digital assistants. Using the gateway, NAA and participating newspapers will explore how mobile users access news, weather, sports and other information as well as wireless advertising. Click here for the entire news release.

Ciena, Corvis advance in marketplaceTwo of the Baltimore-area’s leading optical networking companies announced new developments this morning. First, Ciena said it signed a deal with McLeodUSA Inc., an Iowa-headquartered telecommunications providers, which selected Ciena’s MultiWave CoreDirector as the intelligent optical core switch for its One Functional Network (OFN) national, local, voice and data network. The Ciena product set will allow McLeodUSA to create a simpler, faster, less-expensive network. (Click here for updated stock information.) Also, Corvis Corp. announced the launch of its new class of products for repeaterless terrestrial and undersea festoon regional markets. The CorWave XL and CorWave XF products are designed to deliver ultra-high capacity for terrestrial (XL) and festoon (XF) links, increasing network capacity and reliability, and cutting operational expenses for carriers. These products are designed to move data across optical networks faster and at lower cost. Corvis is expanding the CorWave product suite to address a broader range of applications in existing networks and to open up new market opportunities. (Click here for updated stock information.

Revenue, net loss soar at AetherAether Systems Inc. of Owings Mills, a provider of wireless data products and services, reported financial results for the fourth quarter and fiscal year ended Dec. 31, 2000. For the year, the company reported a nine-fold increase in revenue to $58.2 million, compared with $6.3 million for 1999. The results include recurring services revenue of $31.2 million, engineering services revenue of $9.4 million and software product revenue of $17.6 million. In the same period last year, recurring services revenue accounted for $3.7 million, engineering services revenue was $2.6 million; the company did not yet have software product revenue. The company reported an operating loss for the year, adjusted for the impact of certain non-cash charges, of $1.94 per share, compared with 40 cents per share operating loss in the same period last year. Click here for updated stock information.

Coventry reportsCoventry Health Care Inc. of Bethesda reported operating results for the fourth quarter and year ended December 31, 2000. Operating revenues totaled $718.7 million for the quarter and net earnings were $20.9 million, or $0.31 per diluted share. For the year, Coventry had operating revenues of $2.6 billion and net earnings of $61.3 million, or $0.93 per diluted share. Click here for updated stock information.

Ryder selectedNorthrop Grumman Corp. has selected Ryder System Inc., of Miami, to implement a transportation management program for its Baltimore-based Electronic Sensors and Systems Sector (ES3) and another, Dallas-based business unit. ES3 manufactures defense, space and weapons systems.

Marriott boosts earningsMarriott International Inc., of Bethesda, said strength in U.S. lodging operations boosted fourth-quarter earnings. The company reported earnings of $149 million, or 59 cents per diluted share, on sales of $3.2 billion, compared with earnings of $90 million, or 34 cents a share, on sales of $2.8 billion for the same quarter a year ago.

Arthritis instituteThe Arthritis Foundation, Maryland Chapter, said it will launch the Maryland Arthritis Research Center, bringing together researchers from the University of Maryland School of Medicine, The Johns Hopkins University School of Medicine and the National Institutes of Health, in an unprecedented effort to find the cause and cure for arthritis.

Manugistics’ new hireMichael G. Simonetto has been named senior vice president of pricing and revenue optimization at Manugistics Group Inc., a Rockville-based, global provider of intelligent supply chain solutions for enterprises and evolving e-business trading networks. He is a former partner at Deloitte Consulting, specializing in consumer goods.

Power surgeOrion Power Holdings Inc., of Baltimore, marked its transition from a startup to a mature energy company by a 614 percent increase in revenues, to $958 million, for the year ended Dec. 31, 2000, compared to $134 million for the same period in 1999. Net income for 2000 was $29 million, or 44 cents per diluted share, compared to $6 million, or 38 cents per share in 1999.

InHand, formerly DVPDVP Inc., of Rockville, said it has raised $625,000 in venture capital financing and has changed its name to InHand Electronics Inc. The company specializes in the development of sophisticated, industrial-strength, handheld device technology, and officials said the new name reflects its evolution.

Targeted alliancee-centives Inc., of Bethesda, an online direct marketing infrastructure company, has formed an alliance with Pennsylvania-based direct marketing firm MyClipper, to enhance e-centives’ offerings by providing users who include a zip code in their profile with targeted, neighborhood-based printable coupons and special offers.

Jos. Bank’s sales upHampstead-based menswear clothier Jos. A. Bank Clothier Inc. said its sales for the quarter ended Feb. 3, 20001 increased 14.5 percent to 71 million, compared to $62 million for the same period in 1999. Comparable store sales increased 14.6 percent, Internet sales were up 157 percent, while catalog sales decreased 14.1 percent.

Bank finances BankJos. A. Bank Clothier Inc. said it has obtained financing of a $50 million credit agreement with its bank through April 2004. The company said it has no outstanding bank debt.

Healing potentialRegeneRX Biopharmaceuticals Inc., of Bethesda, has signed an exclusive licensing agreement with the National Institutes of Health for Thymosin Beta 4 (TB4), a compound which has shown potential in the field of wound healing. The agreement allows RegeneRX to commercialize TB4 for tissue repair and wound healing.

Loral in SingaporeRockville-based Loral CyberStar has opened an Asian network operations center and master control room in Singapore. The new center will monitor all satellite and equipment operations as well as provide helpdesk functions for Loral’s products. Loral CyberStar is a global
Internet company.

TradePower acquiresTradePower, the Linthicum Heights business-to-business digital marketplace and supply chain solutions provider for the construction industry, said it has agreed to acquire Blue Bell, Pa.-based Trade Service Systems Inc. for an undisclosed amount. TSS offers business systems for the wholesale distribution industry.

Pizza dealBaltimore-based Deutsche Banc Alex. Brown and Banc of America Securities acted as joint-lead managing underwriters on the public offering by California Pizza Kitchen Inc. of 4.4 million shares of common stock at a price of $25.94 per share.

Opportunity for NexToneRockville-based NexTone Communications, a provider of advanced networking systems, said that bConvergent, a provider of hosted PBXs and voice-enabled Virtual Private Networks, will deploy NexTone’s iServer product in a joint marketing venture with Cogent Communications in 22 metropolitan areas.

Split Rock’s new clientSplit Rock Communications LLC, a Chevy Chase public relations agency servicing Internet and technology companies, has been selected by San Jose, Calif.-based Finjan Software Inc., an Internet security company, as Finjan’s public relations agency of record, focusing on trade press, broadcast media and analyst relations.

Speaking of telephonyMHL Communications Inc., a Columbia-based Internet appliance telephony company, and Access Power Inc. a Voice Over Internet Protocol (VoIP) service provider, have formed a partnership that will enable customers to leverage their existing cordless telephones in completing calls using Access Power’s FreeWebCall.com.

SafeNet appointsSafeNet, a Baltimore-based provider of Internet security technology, has named Toni Bischofberger as managing director of Gretacoder Data Systems AG, a SafeNet subsidiary based in Zurich, Switzerland. Bischofberger will lead international sales and marketing efforts for SafeNet.

Aether’s new productAether Systems Inc., of Owings Mills, a provider of wireless data products and services, has released e-Mobile Delivery 3.2, a wireless proof-of-delivery platform for enterprise customers to develop and administer delivery and supply chain management applications, allowing wireless transfer of data among their private fleets.

Ciena offeringCiena Corp., of Linthicum, completed the public offering of 11 million shares of common stock at a per-share price of $83.50, and the sale of 3.75 percent convertible notes, due Feb. 1, 2008. The notes will be convertible into shares of common stock at a conversion price of approximately $104.38 per share.

Coventry’s resultsCoventry Health Care Inc., of Bethesda, reported operating revenue for the fourth quarter ended Dec. 31, 2000 totaled $718.7 million, a 25.5 percent increase over the $572.8 million reported in the same period in 1999. Net earnings for the quarter, excluding non-recurring items were $20.9 million, or 24 cents per diluted share, compared to $15 million, or 19 cents per diluted share, for the prior-year period.

MICROS bowls a strikeMICROS Systems Inc., of Columbia, provider of IT solutions for the hospitality industry, has signed an agreement with AMF Bowling Inc., the world’s largest bowling company. AMF has purchased MICROS’ software and workstations, and integrated MICROS point-of-sale system into its revenue-reporting system.

Alliance expandedSequoia Software Corp., of Columbia, a leading provider of XML-pure portal software, and Science Applications International Corp., of San Diego, are expanding their business alliance to provide software and integration services to large health care enterprises.

Search firm opensCaval Global Search LLC has opened for business in Frederick. Caval, a retained executive and Ph.D. search firm, specializes in working with universities, laboratories, and commercial industry leaders to solve critical recruitment needs in the fields of biotechnology, research and development and information technology.