June 19, 1999 |
Garden Grove-based Techmedia Computer Systems and its owner, Andrew Park, have been ordered in court to pay nearly $100 million to its former supplier and a bank. A jury awarded the sums this week, culminating a six-week civil trial in Orange County Superior Court. The case stemmed from a contract dispute that began two years ago between Techmedia, a computer and electronics distributor, and South Korea-based Tae Il Media Co.
June 18, 1999 |
With lower prices eating away at its profit margins, Irvine-based Western Digital Corp. said Thursday that its fourth-quarter losses would be nearly double analysts' expectations. In suffering what will be its seventh consecutive quarterly loss, the beleaguered computer hard drive maker echoed projections by two competitors earlier this month that they would not meet Wall Street estimates. Western Digital said it would lose between $81.5 million and $88.
May 22, 1999 |
Gary E. Liebl is retiring as chairman of QLogic Corp. to devote more time to nonprofit interests and family, the Costa Mesa company said Friday. Liebl has been chairman since QLogic, a provider of high-speed computer technology, was spun off six years ago by rival Emulex Corp. President and Chief Executive H.K. Desai will assume the title of chairman.
May 20, 1999 |
Kingston Technology Corp., the Fountain Valley technology company that has given $58 million in bonuses to its employees during the last couple of years, plans to enrich its workers again this summer by handing out $20 million. The payout--expected to be delivered by July to its 1,000-person staff--is the third round of corporate largess that Kingston founders David Sun and John Tu have bestowed since selling 80% of the computer memory-products maker to Softbank Corp. of Japan for $1.
May 8, 1999 |
QLogic Corp. shares rose 19% on Friday after the maker of chips that connect disk drives and accessories to computers said fourth-quarter profit more than doubled, aided by new products. QLogic rose $14.19 to $90.06, after reaching a record $96.25. The shares have gained about 38% this year. Emulex Corp., QLogic's former parent, rose 22%, or $10.81 a share, to $59.44. Emulex makes networking equipment that complements QLogic's. It spun off QLogic into a separately traded company five years ago.
April 21, 1999 |
Cable modem chip supplier Broadcom Corp. on Tuesday said its earnings more than doubled in the past quarter as revenue skyrocketed, fueled by strong growth in sales of its networking products and digital television set-top box and cable modem chips. In the first three months of this year, the Irvine-based firm earned $19.3 million, or 19 cents a share, up from $7.7 million, or 9 cents a share, a year ago.
March 25, 1999
Microsemi Corp., Santa Ana-based supplier of semiconductors and other products, said it signed an agreement to supply Compaq Computer Corp. with $3.5 million worth of power-protection devices over the 1999 calendar year. The contract could be renewed annually, Microsemi said.
March 23, 1999 |
I/OMagic Corp.'s shares on Monday climbed 36%, or 63 cents, to $2.38 as the Irvine company said Circuit City Group, the No. 2 consumer-electronics chain, will begin selling such I/OMagic products as modems, CD-ROM drives and other personal-computer peripherals. The stock is traded over the counter.
March 12, 1999 |
In another sign that the weak global economy is taking its toll locally, computer distribution giant Ingram Micro Inc. said Thursday that it will cut 1,400 jobs, or 10% of its work force, because of slowing sales abroad and intense price cutting in the U.S. Santa Ana-based Ingram, the world's largest distributor of personal computers, is the second major Orange County company this week to announce sizable job cuts tied in part to lower global sales.
March 4, 1999 |
Microsoft Corp. has filed suit against nine Southland firms--three in Orange County--as part of an ongoing effort to crack down on software counterfeiting. The software giant accused Nova Tek of Orange, Pan Computer of Santa Ana and PD Software of Westminster of selling fake copies of Office Professional 97.