Datum Inc

The Irvine manufacturer of time and frequency products reported record first-quarter net income of $1.8 million, or 28 cents a share, compared with net income of $328,000, or 5 cents a share, for the first quarter of 2000. Revenue increased 12% to a record $32.3 million.

Datum Inc., an Irvine maker of timing devices, said Thursday that it agreed to be acquired by a San Jose-based competitor for stock worth $97 million. Symmetricom Inc., which has another deal pending to acquire a much smaller competitor, would exchange nearly 2.8 of its shares for each share of Datum. News of the deal sent Datum stock up 21%, or $2.39, to close at $13.80. Symmetricom fell 81 cents to $5.29. Both companies trade on Nasdaq.

Irvine-based Datum Inc. said it has received an order valued at more than $1 million to provide synchronization supply units to China Telecom Ltd. Datum said its products will be installed in China's long-distance network. Datum, which makes sophisticated timing equipment, had supplied products for the first two phases of the project.

The slowdown in capital spending along with fewer orders for its wireless products led Datum Inc. on Monday to cut its second-quarter earnings forecast by as much as half. The Irvine maker of timing and frequency supplies said in a press release that it expects quarterly revenue to be $27 million to $29 million, which would result in earnings of 10 cents to 13 cents a share. Analysts had expected the company to earn 20 cents a share, according to a survey by First Call.

Datum Inc., a manufacturer of frequency products and timing instrumentation, said Friday that it has signed an agreement to acquire the Efratom Division of Ball Corp. for $26.5 million in cash and stock. Efratom, based in Irvine, is a supplier of rubidium atomic frequency source, an important component used in cellular telecommunications. Efratom's sales for 1993 were $32.9 million. Last year, Datum posted sales of $24.6 million.

Datum Inc., a maker of telecommunications products, said Monday that it has acquired a competitor in a deal that will double its revenue. Datum paid about $26 million in cash and stock for the Irvine-based Efratom division of Ball Corp. in Muncie, Ind. The purchase price consisted of $15 million in cash and 1.3 million in Datum stock, about a third of its shares outstanding.

Datum Inc., an Irvine-based maker of precision timing systems, named Robert Krist vice president and chief financial officer, effective Nov. 1. He succeeds David A. Young, who resigned in July to pursue other opportunities. Christopher Felfe, Datum's corporate controller, had assumed the position on an interim basis. Krist previously served as chief financial officer of Bridge Medical Inc., a medical information technology company in Solana Beach, Calif.

The Irvine manufacturer of time and frequency products reported record first-quarter net income of $1.8 million, or 28 cents a share, compared with net income of $328,000, or 5 cents a share, for the first quarter of 2000. Revenue increased 12% to a record $32.3 million.

Datum Inc. expects earnings of 25 cents to 30 cents a share for the first quarter ended March 31, up sharply from earnings a year ago and surpassing an analyst's estimates. The Irvine company, which makes high-performance products for telecommunications networks, earned $328,000, or 5 cents a share, a year ago. An analyst had estimated quarterly earnings of 20 cents a share, according to First Call/Thomson Financial. Revenue totaled about $33 million for the first quarter, up from $28.

Datum Inc., an Irvine-based maker of precision timing systems, named Robert Krist vice president and chief financial officer, effective Nov. 1. He succeeds David A. Young, who resigned in July to pursue other opportunities. Christopher Felfe, Datum's corporate controller, had assumed the position on an interim basis. Krist previously served as chief financial officer of Bridge Medical Inc., a medical information technology company in Solana Beach, Calif.

Datum Inc. said it will cut about 20 jobs and combine operations in San Jose and Beverly, Mass., to reduce costs and eliminate duplicate positions and services. The Irvine-based telecommunications equipment company will form a test and measurement division with sales, marketing and administrative functions based in Beverly. Some other administrative and manufacturing operations in San Jose will be moved to Irvine. Datum shares rose $1.13 to close at $24 on Nasdaq.

Datum Inc., an Irvine-based maker of precision timing systems, said Tuesday it will cut about 20 jobs and combine operations in Massachusetts and San Jose to reduce costs and eliminate duplicate positions and services. The company will form a test and measurement division with sales, marketing and administrative functions based in Beverly, Mass. Some other administrative and manufacturing operations in San Jose will be moved to the company's headquarters in Irvine.