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Essex Corp

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BUSINESS
August 13, 1998
Essex Corp. of Columbia reported financial results yesterday for the first two quarters of the year, bringing the struggling technology company up to date in its disclosures.For the first quarter of 1998, Essex posted a loss of $258,000, or 6 cents per share, on revenue of $804,000. The revenue was down nearly 32 percent from the $1.174 million reported for the first quarter of last year, but the $459,000 net loss in the year-ago quarter was larger than this year's.Essex, which has invented a method for processing digital images, improved further during the second quarter.
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BUSINESS
By Marianne Amoss, Special to The Baltimore Sun | December 5, 2013
The first indication that KEYW Corp. takes a different approach to business is its name, an adaptation of the airport code for Key West. Then there are the patio furniture in meeting rooms, the parrot mascot and the Jimmy Buffett tune that plays when callers are put on hold. But it's not to be construed as goofing off. “We're not walking around in sandals and shorts,” CEO Len Moodispaw said. “If you were to look at Silicon Valley, which traditionally has been blue jeans and laid-back, we're more like that because of the high-tech workforce we have.” An engineering services firm, KEYW works with software, hardware and systems engineers to develop capabilities and technologies related to cybersecurity, counterterrorism and geospatial intelligence.
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BUSINESS
September 27, 1997
Columbia's Essex Corp. delivered a high-tech processor to the Air Force this week, a promising development for a small company struggling to make its mark.The Wright Laboratory Armament Directorate at Eglin Air Force Base in Florida took possession of a device Essex calls the Egret, which uses laser-based technology to quickly recognize patterns.The Air Force will test the Egret's ability to pick out missile targets from clutter."This device provides a significant advance in the development of pattern recognition techniques for precision strike munitions and fire-and-forget missiles," said Dennis Goldstein of the Air Force laboratory.
BUSINESS
By Allison Connolly and Allison Connolly,Sun reporter | November 10, 2006
Essex Corp. may have had a rocky beginning, but it's little wonder why the nation's third-largest defense contractor now wants to buy it. Seven hundred of its employees carry highly sought-after security clearances and work on significant contracts for the nation's largest intelligence agency. In five years, it went from a company with a promising optical processing technology and fewer than 50 people to one with more than 1,000 employees and expected earnings of at least $250 million this year.
BUSINESS
February 27, 1996
Columbia-based Essex Corp. said yesterday that it landed a $1 million contract to supply additional engineering and software work on the Iridium System, a global wireless communications system for mobile telephones and pagers that Motorola Corp. is developing.Essex, which employs about 200 people nationwide, 70 of them in Maryland, will perform systems analysis and develop computer software for Iridium's 66-satellite network.Essex, a defense electronics contractor that is attempting to apply its technological know-how to more commercial needs, was hired in 1990 by Motorola to help it develop the wireless communications system.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | September 21, 2006
Columbia technology company Essex Corp. said yesterday that it had agreed to buy Adaptive Optics Associates Inc. of Cambridge, Mass., for $40.3 million. The cash deal is expected to close on or about Oct. 1. Essex develops a variety of optical products, such as technology that encodes data carried by light waves and helps more data move along fiber-optic networks. It also develops a tool that can be used to help locate missiles. The majority of Essex's business is in the intelligence and defense industries.
BUSINESS
By Allison Connolly and Allison Connolly,Sun reporter | November 10, 2006
Essex Corp. may have had a rocky beginning, but it's little wonder why the nation's third-largest defense contractor now wants to buy it. Seven hundred of its employees carry highly sought-after security clearances and work on significant contracts for the nation's largest intelligence agency. In five years, it went from a company with a promising optical processing technology and fewer than 50 people to one with more than 1,000 employees and expected earnings of at least $250 million this year.
BUSINESS
October 27, 1992
Columbia-based Essex Corp. said yesterday that a 15 percent drop in revenue in the quarter than ended Sept. 27 was directly related to the loss of a Department of Energy training contract in November 1991. But an improvement in bottom-line results for the quarter was attributed, in part, to the completion of several fixed-price programs. The high-tech company supplies training products, as well as image processing equipment, to government and commercial clients. The firm's comparable quarter in 1991 ended Sept.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | August 8, 2000
Essex Corp., a small technology company based in Columbia, reported a second-quarter loss yesterday of $176,000 due primarily to a sharp decline in its satellite communications business. The loss, equal to 4 cents a share, compared with a profit of $19,000 in the second quarter last year. Revenue in the three months that ended June 27 totaled $798,000, a decline of 35.8 percent from the $1,733,000 posted in the 1999 quarter. Essex attributed much of its loss to the "downturn" of Motorola's Iridium satellite project.
BUSINESS
By Greg Schneider and Greg Schneider,SUN STAFF | August 8, 1998
Essex Corp. of Columbia reported financial results yesterday.For 1997.The 50-employee company, struggling to market what it calls breakthrough opto-electronic technology, was late reporting last year's numbers because its accountants were unsure whether Essex had the resources to be considered a going concern.Yesterday, Essex reported revenue of $1.013 million for the fourth quarter of 1997, 44 percent more than the $703,000 posted for the fourth quarter of 1996.Net income in the fourth quarter was $475,000, or 13 cents per share, compared with a loss of $1.348 million, or 37 cents per share, in the final period of 1996.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | September 21, 2006
Columbia technology company Essex Corp. said yesterday that it had agreed to buy Adaptive Optics Associates Inc. of Cambridge, Mass., for $40.3 million. The cash deal is expected to close on or about Oct. 1. Essex develops a variety of optical products, such as technology that encodes data carried by light waves and helps more data move along fiber-optic networks. It also develops a tool that can be used to help locate missiles. The majority of Essex's business is in the intelligence and defense industries.
BUSINESS
August 11, 2004
In the Region Covad starts Internet calling service here Covad Communications Group Inc., based in San Jose, Calif., launched its voice over Internet calling service for Baltimore businesses yesterday, hoping that companies will adopt the technology and help spur interest in it. Called VoIP, the service allows businesses to make telephone calls over the Internet, bundling voice and data communications together. AT&T Corp. has recently embraced the technology as its future and during Friday's Olympic Games opening ceremonies, the company will unveil a new ad campaign that highlights a VoIP focus.
BUSINESS
July 20, 2004
Advertising Begun is associate at Warschawski agency Warschawski Public Relations appointed Kelli Begun to the staff as an associate at the Baltimore-based agency. She is responsible for media relations, branding and strategic planning for clients in the education, consumer and technology industries. A graduate of Rutgers University, she was formerly with the McLean, Va.-based Merritt Group. New Positions Jacobson is Essex Corp. CFO, executive VP Essex Corp. appointed Lisa Jacobson as chief financial officer and executive vice president.
BUSINESS
November 1, 2001
In the Region Essex Corp. loses $984,000 as revenue declines to $745,000 Essex Corp. reported yesterday that its net loss widened to $984,000 in the third quarter, from $352,000 in the third quarter of 2000. Revenue for the three months that ended Sept. 30 was $745,000, compared with $760,000 a year earlier. The Columbia optical and communications engineering company reported a $2.8 million loss for the first nine months compared with a net loss of $537,000 posted for the corresponding period in 2000.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | August 8, 2000
Essex Corp., a small technology company based in Columbia, reported a second-quarter loss yesterday of $176,000 due primarily to a sharp decline in its satellite communications business. The loss, equal to 4 cents a share, compared with a profit of $19,000 in the second quarter last year. Revenue in the three months that ended June 27 totaled $798,000, a decline of 35.8 percent from the $1,733,000 posted in the 1999 quarter. Essex attributed much of its loss to the "downturn" of Motorola's Iridium satellite project.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | May 4, 2000
Essex Corp., a small, financially struggling technology company based in Columbia, reported a slight gain in first-quarter revenue yesterday, thanks primarily to the payment for work from a government contract completed five years ago. For the three months ended March 26, Essex posted a net loss of $9,000, equal to zero cents a share, from revenue of $975,000. In the corresponding quarter of 1999, the company posted a loss of $149,000, or 3 cents a share, on revenue of $966,000. Without the payment of $148,000 from a cost-plus Department of Defense contract completed in 1995, first-quarter revenue would have been down 15 percent to $827,000, and the loss would have been $157,000, according to Joseph R. Kurry Jr., Essex's chief financial officer.
BUSINESS
By Greg Schneider and Greg Schneider,SUN STAFF | March 29, 1997
Essex Corp. of Columbia suffered an annual operating loss of $3.325 million on revenues of $12.939 million for 1996, causing it to close operations in Alabama and to consider broad restructuring or sales of assets, the company said yesterday.The loss on operations was partially offset by a gain of about $2.2 million from the settlement of a lawsuit, so the final loss wound up at $1.33 million, or 37 cents per share."We are extremely disappointed by our 1996 results," Chairman and Chief Executive Officer Harry Letaw said in a news release.
BUSINESS
By Greg Schneider and Greg Schneider,SUN STAFF | April 1, 1998
The walls are closing a little tighter around Columbia's Essex Corp., which said yesterday that it will be late filing its 1997 financial results amid worry that the small technology company may not be able to continue as a going concern.Essex is beset with liquidity problems because it has been slow both to win work and to sell its patented ImSyn optoelectronic image processing device, the company said in a news release.The company also will lose its $500,000 line of credit when it expires on May 31.Nonetheless, President and Chief Executive Officer Harry Letaw said he is not ready to close the book on the struggling company.
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