July 8, 1999 |
Odetics Inc. is to receive $70.6 million in damages from a rival seller of data-storage equipment after a federal appeals court reinstated a jury's award in a patent dispute. A jury last year found that Storage Technology Corp. of Louisville, Colo., the No. 1 maker of corporate computer tape-storage systems, infringed an Odetics patent related to data storage in network computing. The verdict was reversed by a federal judge in Virginia, but a higher court reinstated the award Tuesday.
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.
June 4, 1999 |
A Los Angeles federal grand jury has indicted 12 people suspected of being involved in a $60-million software counterfeiting ring believed to have been run by Asian gangs in Orange County. Westminster police and the FBI are expected to disclose the names of the defendants today, sources said. Local and federal investigators raided several warehouses in Long Beach and Paramount in February, and found tens of thousands of fake copies of Microsoft Corp. products. Investigators seized a $1.
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.