IN BRIEF

Xybernaut of Fairfax, a developer of mobile computing technology,raised more than $9 million in a private placement of stock withinstitutional investors. The stock, to both new and existingshareholders, was priced at $1.60 per share. The deal included theopportunity to purchase additional stock in the company for $3 pershare at a later date, which would raise $4.2 million. Shares ofXybernaut closed at $1.69, up 5 cents.

Titan, a San Diego-based government contracting firm, said itsDefense & Intelligence Systems Group, formerly BTG, won a U.S.Special Operations technology integration contract valued at up to$189.4 million over nine years. Titan acquired Fairfax-based BTG inNovember. Under the contract, Titan will provide network design andengineering and other services to the U.S. Special OperationsCommand.

WorldTeq Group International, a Rockville telecom and Internetservices company, said it was approved to begin trading on the Over-the-Counter Bulletin Board. The company, which previously tradedthrough Pink Sheets, will trade under the symbol WTEQ.

Omega Healthcare Investors, a Timonium, Md., company that owns andoperates health-care facilities nationwide, reported a fourth-quarter loss of $10.4 million (52 cents per share) on revenue of $56million. The company lost $8.9 million (45 cents) on revenue of $74.1million in the fourth quarter of 2000. For the year, the company lost$36.6 million ($1.83) on revenue of $257.6 million, compared with aloss of $66 million ($3.32) on revenue of $276 million.

U.S. telecommunications companies spent 2.8 percent less onequipment and software in 2001 than they did the previous year asrevenue dried up, the Telecommunications Industry Association said.The drop will continue this year, with companies spending 4 percentless in 2002 than last year on new gear, the trade group projected.Equipment spending in 2002 is expected to be $160.1 billion, downfrom $166.7 billion in 2001 and $171.5 billion in 2000. After a 17.2percent increase in 2000, a drop in capital investment limitedcompanies' ability to handle expected higher demand, the group saidin a report. At the same time, demand for wireless services and datatraffic continues to climb and is likely to eventually cause abottleneck prompting renewed spending.

Compiled from reports by Washington Post and Washtech.com staffwriters, Bloomberg News and Dow Jones News Service