CALIFORNIA | LOCAL
April 4, 2000
Coyote Network Systems Inc. in Westlake Village said it has signed a letter of intent to acquire Group Long Distance Inc., a reseller of long-distance services to small- and medium-sized businesses and residential customers with competitive local exchange carrier licenses in more than 40 states. GLDI shareholders would receive about $5.6 million in shares of Coyote Network Systems common stock, in exchange for 100% of the equity interest in GLDI.
February 15, 2000
* Coyote Network Systems Inc., telecommunications networking company, has filed for an extension of its deadline for reporting its fiscal third-quarter results for the period ended Dec. 31, 1999. The Westlake Village-based company now expects to file its financial results Feb. 22. The company reported operating losses in the year-ago quarter and for fiscal second-quarter ended Sept. 30, 1999. Shares fell 19 cents to close at $7.63 on Nasdaq.
December 11, 1998 |
Trading was halted Thursday in Coyote Network Systems Inc. stock, a day after a financial Internet site wrote a story saying it couldn't find the company's biggest customer. Shares of Westlake Village-based Coyote sank 45% on Wednesday, to $7.81, after TheStreet.com published an article detailing its unsuccessful attempt to locate Crescent Communications Inc., which it said accounted for 75% of Coyote's fiscal second-quarter sales, as well as Crecent's chairman, Gene Curcio.
December 10, 1998 |
Shares of Coyote Network Systems Inc., a Westlake Village-based telecommunications company, plunged 45% on Wednesday after a popular financial Internet site published a story saying it could not locate the company's biggest customer. TheStreet.com, a Web site headed by oft-quoted Wall Street pundit James J. Cramer, wrote that despite extensive research, it could not find Crescent Communications Inc., which it said represented about 75% of Coyote's fiscal second-quarter sales.
March 24, 1998 |
Coyote Network Systems in Westlake Village has withdrawn its offer to acquire NUKO Information Systems of San Jose in a stock-for-stock deal announced Dec. 12. Officials said one reason the offer was withdrawn was because Coyote could not reach agreement on the transaction with NUKO's larger creditors and other interests. "We are disappointed that the acquisition of NUKO will not be completed,' said James J. Fiedler, Coyote chairman and chief executive officer.
CALIFORNIA | LOCAL
February 29, 2000
Coyote Network Systems of Westlake Village reported a net loss of $5.1 million for the third quarter that ended Dec. 31, compared with a loss of $4.2 million for the same period last year. Revenue dropped to $6.8 million from $12.9 million. The company also announced the sale of a 9% interest in Systeam S.p.A., a communications company in Rome, for $1.2 million.