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Eip Microwave

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BUSINESS
February 1, 1989
EIP Microwave, Newport Beach, reported a loss of $192,000 for its first quarter ended Dec. 31, 1988, contrasted with a year-earlier loss of $729,000. Sales rose 26% to $3.1 million from $2.5 million. The current year's first-quarter loss included a pretax charge against operations of $1.1 million resulting from the write-down of certain assets associated with the company's realignment of technical, financial and management resources.
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BUSINESS
December 9, 1986 | CARLA LAZZARESCHI
After more than a year of sagging profits, EIP Microwave Inc. of Newport Beach has named a new president and chief operating officer, as well as a new chief financial officer. Jeffrey B. Bryant, formerly EIP's executive vice president and general manager, was appointed president and chief operating officer for the company that makes microwave test and measurement instruments. Bryant replaces L. Russell Foster who was said to have resigned to pursue other interests.
BUSINESS
December 5, 1990
The cutback in Pentagon spending is squeezing one small Newport Beach-based defense contractor. EIP Microwave Inc. said Tuesday that it has discontinued its quarterly cash dividends and is searching for a strategic partner as a result of declining sales to the military. The manufacturer of test and measurement equipment is eliminating its 3-cent-a-share quarterly dividend to help finance new product development and is seeking a business partner said Jonathan W.
BUSINESS
November 21, 1985
The U.S. Air Force has placed a $7,018,000 order with EIP Microwave Inc. in Newport Beach for a year-long shipment of standard test instruments that measure whether communications and electronic warfare systems are receiving microwave signals properly. The company will start sending the microwave frequency counters to the San Antonio Air Logistics Center at Kelly Air Force Base in Texas before the end of the year. Two-thirds of the order will be filled by the end of EIP's fiscal year next Sept.
BUSINESS
February 11, 1987
Citing stronger sales, EIP Microwave Inc., the Newport Beach-based maker of microwave test devices, reported fiscal 1987 first-quarter profits of $92,000, up 23% from the $75,000 reported the year before. Sales in the period ended Dec. 31 were $5.6 million, up 24% from the $4.5 million posted in the year-ago period.
BUSINESS
July 26, 1988 | DAVID OLMOS, Times Staff Writer
EIP Microwave, a Newport Beach technology firm, reported a $560,000 quarterly loss Monday and said its continuing problems have resulted in the resignation of company president Jeffrey B. Bryant. "It was mutually agreed that (Bryant's resignation) was the best move for the company," said EIP Chairman John F. Bishop, who has assumed the additional title of president. In another management change, the company named Robert W. Austin as vice president, general manager and chief operating officer.
BUSINESS
January 27, 1988 | DAVID OLMOS, Times Staff Writer
Beleaguered EIP Microwave said Tuesday that it has laid off 45 people because it lost $729,000 on a 56% drop in sales during its latest quarter. EIP, a manufacturer of microwave test and measurement equipment, said all of the layoffs occurred in December and January at its San Jose manufacturing facility, which now employs 100 people. The company maintains a small corporate headquarters staff in Newport Beach.
BUSINESS
September 6, 1986 | MICHAEL FEIBUS, Times Staff Writer
Blaming slack sales, EIP Microwave Inc. of Newport Beach said it is trimming its payroll for the second time in as many years--this time laying off 17 of its 190 workers, all from its main manufacturing facility in San Jose. The layoffs were effective Friday. Weak demand for the company's microwave test and measurement instruments is forcing management to cut production and lay off the workers, said Richard Certo, EIP Microwave's chief financial officer.
BUSINESS
December 5, 1990
The cutback in Pentagon spending is squeezing one small Newport Beach-based defense contractor. EIP Microwave Inc. said Tuesday that it has discontinued its quarterly cash dividends and is searching for a strategic partner as a result of declining sales to the military. The manufacturer of test and measurement equipment is eliminating its 3-cent-a-share quarterly dividend to help finance new product development and is seeking a business partner said Jonathan W.
BUSINESS
December 27, 1989 | David Olmos, Times staff writer
$970,000 Order: EIP Microwave said it has received a $970,000 order to supply microwave test equipment to the Air Force. The Newport Beach-based company earlier had won a $13-million contract to supply Air Force test equipment.
BUSINESS
April 27, 1989
EIP Microwave Inc. reported net income of $242,000 for the second quarter ended March 31. It had a loss of $442,000 for the same period a year ago. Sales rose 29%, to $3.4 million from $2.6 million. The company attributed the turnaround to restructuring during the previous year and an emphasis on expanding base business. For the 6 months, net income totaled $50,000, which included a $748,000 gain from an accounting change. The company lost $1.2 million for the first half of last year.
BUSINESS
February 1, 1989
EIP Microwave, Newport Beach, reported a loss of $192,000 for its first quarter ended Dec. 31, 1988, contrasted with a year-earlier loss of $729,000. Sales rose 26% to $3.1 million from $2.5 million. The current year's first-quarter loss included a pretax charge against operations of $1.1 million resulting from the write-down of certain assets associated with the company's realignment of technical, financial and management resources.
BUSINESS
July 26, 1988 | DAVID OLMOS, Times Staff Writer
EIP Microwave, a Newport Beach technology firm, reported a $560,000 quarterly loss Monday and said its continuing problems have resulted in the resignation of company president Jeffrey B. Bryant. "It was mutually agreed that (Bryant's resignation) was the best move for the company," said EIP Chairman John F. Bishop, who has assumed the additional title of president. In another management change, the company named Robert W. Austin as vice president, general manager and chief operating officer.
BUSINESS
May 8, 1988 | ERIC SCHINE, Times Staff Writer
EIP Microwave has had a winter to forget. But the Newport Beach manufacturer of microwave test and measurement equipment has a shot at eventually coming out of its deep freeze and regaining its niche in the lucrative defense contracting business. In December, 1987, the company was indicted on federal charges that it illegally shipped its products overseas. In January, the company reported a loss of $729,000 on a 56% drop in sales for the first quarter of fiscal 1988.
BUSINESS
June 13, 1985 | LESLIE BERKMAN, Times Staff Writer
Caught off-guard by a sharp reduction in orders, EIP Microwave Inc. has laid off about 30 of the 230 workers at its main business and manufacturing facility in San Jose. The Newport Beach company also is predicting a decline in its 1985 earnings because of the sales slump. EIP Corporate Vice Chairman Mark K. Howlett said employees at the San Jose facility were notified Wednesday of the layoffs, which became effective immediately.
BUSINESS
April 15, 1988 | DAVID OLMOS, Times Staff Writer
EIP Microwave has settled a federal lawsuit that accused the Newport Beach firm of illegal overseas sales of high-technology equipment. Under the terms of the settlement, the U.S. Justice Department agreed to drop all three felony counts pending against EIP. The company agreed to plead guilty to a misdemeanor violation, which carries a $1,000 fine, and to pay $28,000 to cover the costs of the government's investigation. The settlement comes at a critical time for EIP.
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