June 13, 2003 |
Network equipment maker 3Com Corp. said Thursday that it would cut 10% of its workforce, about 390 jobs, over the next six months to reduce costs amid weak demand for its products. 3Com said the decision would affect mostly employees in the United States and Europe. Within the United States, the deepest cuts will be in the company's Santa Clara, Calif., headquarters. 3Com employed 3,900 people at the end of its fiscal third quarter, which ended in February. Shares rose 5 cents to $5.
July 30, 1999 |
Mossimo Inc. reported its first quarterly operating profit in two years Thursday, as sales from ongoing operations rose 22%. Factoring in a one-time charge of $6.1 million, the Irvine-based clothing designer remained in the red. But Mossimo's improving numbers indicate that its internal reorganization is paying off, according to Chief Executive Edwin Lewis.
October 7, 2003 |
The Supreme Court on Monday cleared the way for Rambus Inc., a maker of computer chip interface technology, to proceed with its patent-infringement lawsuit against Infineon Technologies and take its case to a jury. The justices rejected Infineon's bid to end the suit and reinstate a jury finding that Rambus committed fraud while pursuing patents for high-speed chips that became an industry standard. Los Altos, Calif.
May 23, 2003 |
Wet Seal Inc., which sells trendy clothes to girls and women, continued Thursday to pile up losses in the first quarter as comparable-store sales slumped almost 26% compared with the previous year. But the company's stock price jumped 15% as investors focused on the positive as some analysts said the retailer finally could be gaining traction as it tries to turn its business around. Shares closed at $10.05, up $1.32, on Nasdaq. The Foothill Ranch-based company lost $8.
October 30, 2002 |
Musical instruments and products retailer Guitar Center Inc. on Tuesday posted sharply higher third-quarter net income, helped by cost containment and an increase in same-store sales, but the company's revenue increase was lower than expected. The Westlake Village-based company posted net income of $4.4 million, or 19 cents a share, compared with $1.4 million, or 6 cents, in the third quarter of 2001. Net sales rose 13% to $257.4 million.
December 17, 2004 |
Quiksilver Inc.'s annual sales swelled past $1 billion for the first time in fiscal 2004, a first for a "board sports" apparel manufacturer, a quintessentially Southern California enterprise. The Huntington Beach-based company, which makes clothing and gear for surfing, skateboarding and snowboarding, said revenue in the 12 months ended Oct. 31 rose 30% to $1.27 billion. Analyst Jeffrey Van Sinderen at B. Riley & Co.
July 31, 2003 |
Big 5 Sporting Goods Corp.'s earnings jumped 52% in the second quarter, the company said Wednesday, as stronger sales of apparel and outdoor goods helped offset the dampening effects of poor weather. The El Segundo-based retailer, which went public in June 2002, said net income climbed to $6.3 million, or 28 cents a share, from $4.1 million, or 13 cents a share, a year earlier.
June 26, 2003 |
3Com Corp., the world's No. 3 maker of computer-networking equipment, reported a fiscal fourth-quarter loss Wednesday and said that falling demand was behind a 41% slide in revenue. The company said it sees no sign of improvement in the current quarter. The loss from continuing operations was $98.2 million, or 27 cents a share, contrasted with a profit of $4.68 million, or 1 cent, a year earlier. Sales at the Santa Clara, Calif.-based company fell to $175 million.
January 8, 2003 |
The Christmas season has left executives at Guitar Center Inc. playing a happy tune. Shares of the Westlake Village-based retailer of guitars and other music equipment soared $3.94, or 23%, to $20.80 Tuesday on Nasdaq, a day after alerting Wall Street that it was raising its fourth-quarter earnings estimate after strong holiday sales boosted quarterly revenue to a record $335 million.
February 17, 1999 |
In a deal that could help Interplay Entertainment bolster its operations and return to profitability, the struggling Irvine-based developer of video games said Tuesday that it has acquired a 49.9% stake in British competitor Virgin Publishing. Financial terms were not disclosed, but the transaction involves only a "minimal" amount of cash, said Brian Fargo, Interplay's chief executive.