Net Loss

BEIJING - The world of tennis, as we know it, spun off its axis a bit here Thursday night in front of thousands of enthusiastic Chinese spectators. This is the Beijing Olympics, not Wimbledon or another Grand Slam tournament. No ivy-covered walls here, no red clay or echoes of Jimmy Connors under the lights in the Big Apple. The stadium here is a big, circular chunk of concrete. It has all the charm of a freeway ramp. Yet it might long be remembered for this night, when what was predictable and comfortable in the sport came unhinged.

Late last year, I attended a conference on blogging - the first of its kind that I know of - and the closing keynote speaker was Mark Cuban, owner of the Dallas Mavericks. Cuban is a versatile guy. A businessman extraordinaire, he has made billions in computer/digital/information technology. A rabid sports fan, he owns a fairly successful sports franchise. Being light on his feet, he did better than OK on Dancing with the Stars. And with a keen appreciation for the information free range the Internet has become, he's a celebrity blogger (blogmaverick.

Maryland : Earnings Ore reports loss for 4Q of $8.8 million Ore Pharmaceuticals, formerly known as Gene Logic Inc., said yesterday that its quarterly loss increased as it made the transition from a genomics company to one finding new uses for current drugs. The Gaithersburg company reported a net loss of $8.8 million, or 28 cents per share, for the fourth quarter ended Dec. 31. That was compared with a net loss of $5 million, or 16 cents per share, for the quarter a year ago. The 2007 losses included $3.9 million associated with the sale of its genomics information business.

Despite shrinking cash and questions from shareholders about whether it can survive, TVI Corp. said yesterday that its turnaround is on track. The Glenn Dale manufacturer of decontamination shelters reported improved sales for the third quarter but still posted a loss. "While we all would like to speed up the process, we believe our management team is setting realistic, tangible, short- and long-term goals for TVI and is working at a steady, substantial pace," interim chief executive Harley A. Hughes told shareholders during a conference call to discuss third-quarter results.

Vertis Communications said yesterday that it chose Michael T. DuBose as its new chairman and chief executive officer because of his experience in turning around companies in struggling industries. Baltimore-based Vertis, which is owned by an investor group led by Thomas H. Lee Co. and Evercore Partners, is heavily in debt from a leveraged buyout last year. It also is trying to better compete in an advertising environment that is moving away from traditional methods such as newspapers and television.

The U.S. Open has always been the showcase event for American tennis. From its roots at the fabled West Side Tennis Club in Forest Hills through its modern incarnation at the USTA Billie Jean King National Tennis Center in nearby Flushing Meadows, the event has been much like the setting in which it was played. It had become the perfect venue for New York - noisy and showy and just a little over the edge - and for a country that had come to dominate the sport for decades. But when the Open returns there today, the buzz will be barely audible.

Mario Lemieux has surprised us before. In 1995, he came back from cancer to regain his status as hockey's most scintillating scorer. In 2000, he returned from a three-year retirement (he had already been elected to the Hall of Fame) to lead Pittsburgh back to the NHL playoffs. He was the Michael Jordan of hockey, one whose skills seemed so sublime that no barrier could hold him back. But Lemieux sounded out of surprises when he announced his second retirement yesterday afternoon. He said he could no longer play to his own standards and called the NHL "a league for young guys."

Magna Entertainment Corp., the Canadian company that owns Maryland's thoroughbred racetracks and the Preakness, announced yesterday that it had reached an agreement to sell its ownership interest in The Meadows, a harness track near Pittsburgh. The sale, to a company that operates casinos in Las Vegas and a California-based investment firm, is expected to gross $225 million for Magna Entertainment, which will continue to manage racing operations. "It was not an easy decision to sell The Meadows but one we concluded was the right decision in terms of maximizing return to our shareholders," said Tom Hodgson, president and chief executive officer of Magna Entertainment.

Ciena Corp. yesterday reported a significantly narrowed net loss for its fiscal third quarter - the Linthicum-based telecom-equipment manufacturer's 16th straight quarter in the red - although its chief executive officer vowed the company would get back to break-even during its next fiscal year. "We intend to get back up to break even during [fiscal] 2006," CEO Gary B. Smith said. "We're not that far away." The company's fiscal 2006 begins Nov. 1. For the third quarter that ended July 31, Ciena reported a net loss of $51.03 million, or 9 cents per fully diluted share.

DETROIT - Visteon Corp. and Delphi Corp., the largest U.S. auto-parts makers, posted a fourth straight quarter of losses yesterday as the result of Ford Motor Co. and General Motors Corp. cutting production in the first half. Visteon's second-quarter net loss was $1.19 billion, including $1.1 billion in noncash expenses to write down the value of plants it is shedding. Delphi posted a $338 million loss and said its third-quarter sales will be down from a year ago. Delphi and Visteon have turned to their former parents, GM and Ford, respectively, for help in reducing losses after sales declines in the first five months of the year prompted carmakers to cut output by a combined 9.6 percent.