Net Loss

NEW YORK - Martha Stewart Living Omnimedia Inc. had a second straight quarterly net loss and said it will be unprofitable again this period as a federal probe of alleged insider trading by its founder discourages advertisers. The company said yesterday that its first-quarter net loss widened to $4.51 million, or 9 cents a share, from $234,000, or break even, a year earlier. Sales fell 15 percent to $58 million from $68 million, the biggest decline since the company sold shares to the public in 1999.

Corvis Corp., the Columbia maker of fiber-optic equipment, said yesterday that it plans to cut about another 150 jobs in the coming months, bringing its staff down to about 20 percent of what it once was. This is the seventh round of layoffs for the company, which has been hit hard by the telecommunications downturn. Many telecom firms are strapped for cash as their customers reduce spending, and Corvis is no exception. Corvis has about 500 workers. The latest round of layoffs will bring its staff to about 350 or less, down from 1,625 employees in mid-2001.

Celera Genomics Group said yesterday that it posted a smaller fiscal third-quarter loss than a year earlier as the Rockville-based company began to see the results of reduced spending. Celera reported a net loss of $26.7 million, or 37 cents per share, for the quarter that ended March 31. The net loss was $49.5 million, or 72 cents a share, in the year-earlier quarter. The results included a $15.1 million noncash charge associated with Celera's investment in Discovery Partners International Inc., a drug company in San Diego.

MURRAY HILL, N.J. - Lucent Technologies Inc., the largest U.S. telephone equipment maker, said yesterday that its second-quarter net loss narrowed to $351 million as costs fell. Sales tumbled 32 percent. The net loss, Lucent's 12th straight, was 14 cents a share, compared with $495 million, or 16 cents, in the year-earlier period. Revenue fell to $2.40 billion from $3.52 billion. Chief Executive Officer Patricia F. Russo said sales might decline more than forecast in fiscal 2003. She said Lucent still plans to return to profitability this year, excluding certain expenses, as the company pares spending.

Manugistics Group Inc., a Rockville-based software company, said yesterday that it cut about 90 jobs - or 7.4 percent of its work force - and more reductions are on the way. The announcement came as the company reported widening losses and falling revenue for its fiscal fourth quarter. During the quarter, Manugistics made the initial cuts, lowering the number of employees to 1,133. Another 80 to 130 jobs are expected to be lost over the next two quarters, the company said. The cuts are part of the company's effort to consolidate its U.S. operations to its Rockville headquarters, improve the way it uses office space and use product development offices in India, officials said.

In the Region Deputy secretary of health is leaving for staff post in D.C. Debbie I. Chang, deputy Maryland health secretary for the past four years, said yesterday that she would be leaving next week to join the staff of the National Academy for State Health Policy in Washington. "It was a difficult decision," she said, "but a great opportunity came up." Chang oversaw the state's Medicaid program, which has an annual budget of $3.3 billion. She said she was pleased that the state's HealthChoice program for welfare mothers and children is "now stable" and "using data to improve the quality of care," and that the state has started several programs to allow senior citizens to receive long-term care in the community, not just in nursing homes.

Duratek Inc. reported a profitable fourth quarter and year yesterday as earnings increased in all parts of its business, company officials said. The Columbia company, which treats radioactive and other wastes, posted net income of $3.3 million, or 17 cents per diluted share, for the three months that ended Dec. 31. That compares with a net loss of $4.8 million, or 38 cents per diluted share, reported for the fourth quarter of 2001. Revenue in the quarter was $77.2 million, compared with $73 million in the year-earlier quarter.

Ciena Corp., the Linthicum maker of fiber-optic equipment that soared during the tech boom and now is fighting to regain profitability, reported yesterday that its loss widened and revenue fell in the first quarter. Ciena lost $107.1 million, or 25 cents per share, on revenue of $70.5 million in the three months that ended Jan. 31. That compares with a loss of $70.6 million, or 22 cents per share, on revenue of $162.2 million reported for the corresponding period a year earlier. Adjusted net loss, which excludes one-time charges, was $48.8 million, or 11 cents per share, in the first quarter.

Sinclair Broadcast Group said yesterday that it had a fourth-quarter profit as the advertising climate improved. The Hunt Valley company, which owns or operates 62 television stations in 39 markets, posted net income of $23.5 million, or 27 cents per diluted share, for the quarter that ended Dec. 31. For the year-earlier quarter, the company had a net loss of $46.1 million, or 55 cents per diluted share. "We continued to see strengthening in the core business during the fourth quarter, even after the significant inflow of political advertising revenues," David Smith, Sinclair's president and chief executive officer, said in a statement.

Columbia-based Corvis Corp. said yesterday that its losses narrowed as revenue dropped during the fourth quarter. The telecommunications company reported a net loss of $190.2 million, or 47 cents per diluted share, for the quarter ended Dec. 28. That compares with a net loss of $374.8 million, or $1.05 per share, for the corresponding quarter of 2001. Adjusted net loss for the quarter - which does not include restructuring and other charges - was $46 million, or 11 cents per share, compared with an adjusted net loss of $39.9 million, or 11 cents per share, for the fourth quarter of 2001.