February 3, 1998 |
Troubled computer service firm Cerplex Group Inc. said Monday that it has agreed to merge with a San Diego rival, Aurora Electronics Inc. The deal, a stock swap that is expected to close in April, will turn Cerplex into a wholly owned subsidiary of Aurora and help the Orange County firm ease some of its ongoing financial problems, company officials said.
August 28, 1997 |
Cerplex Group Inc., an electronic repair services and spare parts supplier, posted a second-quarter loss of $9.4 million, or 30 cents a share, compared with a year-earlier profit of $702,000, or 5 cents a share. Revenue fell 23% to $39.3 million from $51.3 million. The company said its second-quarter results included a $6.6-million gain from the sale of its Peripheral Computer Support Inc. subsidiary and charges of $4.3 million for restructuring expenses and $7.
August 12, 1997
Cerplex Group Inc. said Monday it has signed an agreement to sell its Modcomp / Cerplex L.P. computer systems subsidiary to CSP Inc. Cerplex, a provider of electronic repair services and spare parts, said it will net about $8.2 million from the sale and will use the proceeds to reduce its bank debt and for working capital. The company said the sale is expected to close by the end of the month. Florida-based Modcomp posted $36.
July 9, 1997 |
Cerplex Group Inc. said Tuesday that a turnaround specialist recommended by its bankers will take over as chief executive to guide the computer repair services firm through a restructuring. Stephen J. Hopkins, a principal of Nightingale & Associates LLC, a Connecticut-based financial and management consulting firm, replaces Cerplex founder William A. Klein.
June 28, 1997 |
Struggling computer services company Cerplex Group said Friday it plans to eliminate a third of the work force at the company's headquarters here as part of a sweeping plan to cut costs. The company will cut 42 of the 125 jobs at its Tustin offices, part of a plan to reduce its North American work force by more than 16%. Cerplex said it also plans to consolidate its operations and look for new headquarters in Orange County for its reduced corporate staff.
February 21, 1997
Cerplex Group Inc. said its stock has been dropped from the Nasdaq national market and shifted to the over-the-counter bulletin board as of today because the computer repair and parts supply company's net assets have fallen below Nasdaq's minimum requirements. The Tustin-based company's trading symbol remains the same: CPLX.
October 16, 1996 |
After leading an extensive restructuring at Cerplex Group Inc. for the last year, Chief Executive James T. Schraith said Tuesday that he is leaving the computer services company to take a position as vice president and general manager of a "high-technology Fortune 500 company." Schraith, who declined to name the company he will be joining, arrived at Cerplex exactly one year ago, after he had been ousted as president of AST Research Inc., the giant Irvine computer manufacturer.