Gateway 2000

Westinghouse Electric Corp. said its first-quarter loss widened more than expected as the poor performance of its CBS television unit offset strong results at its radio network. The company lost $151 million, or 23 cents a share, compared with a loss of $114 million, or 26 cents, before gains, charges and asset sales in the year-earlier period. The 1997 per-share results reflect a 46% increase in shares outstanding to 642 million.

Personal computer maker Gateway Inc. said Tuesday that it is restating its revenue for 2000 and part of 2001 in the wake of a Securities and Exchange Commission investigation into its accounting. The No. 3 PC maker said combined revenue for 2000 and 2001 was reduced by about $470 million to $15.21 billion because of an accounting review for computers sold with pre-installed America Online software.

Gateway 2000 Inc. said Tuesday that the antitrust waiting period on its tender offer for Advanced Logic Research Inc. has ended and that it will continue to seek ALR stock at $15.50 a share. Gateway said the Federal Trade Commission and the U.S. Department of Justice terminated the waiting period required by the Hart-Scott-Rodino antitrust law. The offer is scheduled to expire at midnight July 22. ALR directors have approved the offer and recommended that shareholders accept it.

Gateway 2000 Inc. said Monday that it is creating a new unit based in Irvine to bolster its ties with the dealers and distributors who sell computers to corporations. The new unit, called Gateway Partners, will operate out of new offices the South Dakota computer maker is setting up in Irvine. The company will be hiring more staff but isn't sure how many workers it will need, a spokeswoman said.

Gateway 2000 Inc., which markets personal computers, said Tuesday it will expand its operations in California, opening a new division in Irvine and an administrative headquarters in San Diego. Gateway said its Irvine division, Gateway Business, will focus on the business market, which accounted for more than 30% of Gateway's total shipments in the United States last year. The company said it plans to add 50 jobs this year in Irvine, and will expand the staff further next year.

Gateway 2000 Inc., a big mail-order seller of computers, jolted Wall Street on Wednesday by warning of surprisingly weak profit due to industry price wars, product delays and troubles from last month's UPS strike. The company's stock plunged more than 10% on the news that its profit would be marginal in the quarter ending Sept. 30, excluding the impact of special charges. Gateway stock tumbled $3.75 per share to close at $32.81 on the New York Stock Exchange.

Personal computer maker Gateway Inc. said Tuesday that it is restating its revenue for 2000 and part of 2001 in the wake of a Securities and Exchange Commission investigation into its accounting. The No. 3 PC maker said combined revenue for 2000 and 2001 was reduced by about $470 million to $15.21 billion because of an accounting review for computers sold with pre-installed America Online software.

Gateway 2000 Inc. said Monday that it is creating a new unit based in Irvine to bolster its ties with the dealers and distributors who sell computers to corporations. The new unit, called Gateway Partners, will operate out of new offices the South Dakota computer maker is setting up in Irvine. The company will be hiring more staff but isn't sure how many workers it will need, a spokeswoman said.

Irvine microcomputer maker Advanced Logic Research Inc. agreed to a $194-million, $15.50-a-share cash buyout by Gateway 2000 Inc., the nation's biggest direct marketer of personal computers, the companies said Thursday. The acquisition will provide Gateway with a much-desired entree to the corporate market. Advanced Logic will become a wholly owned subsidiary of Gateway.

Microcomputer maker Advanced Logic Research Inc. agreed to a $194-million cash buyout by Gateway 2000 Inc., the nation's biggest direct marketer of personal computers, the companies announced Thursday. The acquisition will provide Gateway with a much-desired entree to the corporate market. Irvine-based Advanced Logic, though profitable on its own, will gain the brand name, deeper pockets and distribution channels of the larger company. Advanced Logic rose $2.

Gateway 2000 Inc., which markets personal computers, said Tuesday it will expand its operations in California, opening a new division in Irvine and an administrative headquarters in San Diego. Gateway said its Irvine division, Gateway Business, will focus on the business market, which accounted for more than 30% of Gateway's total shipments in the United States last year. The company said it plans to add 50 jobs this year in Irvine, and will expand the staff further next year.

Gateway 2000 Inc., a big mail-order seller of computers, jolted Wall Street on Wednesday by warning of surprisingly weak profit due to industry price wars, product delays and troubles from last month's UPS strike. The company's stock plunged more than 10% on the news that its profit would be marginal in the quarter ending Sept. 30, excluding the impact of special charges. Gateway stock tumbled $3.75 per share to close at $32.81 on the New York Stock Exchange.

Gateway 2000 Inc. said Tuesday that the antitrust waiting period on its tender offer for Advanced Logic Research Inc. has ended and that it will continue to seek ALR stock at $15.50 a share. Gateway said the Federal Trade Commission and the U.S. Department of Justice terminated the waiting period required by the Hart-Scott-Rodino antitrust law. The offer is scheduled to expire at midnight July 22. ALR directors have approved the offer and recommended that shareholders accept it.

Microcomputer maker Advanced Logic Research Inc. agreed to a $194-million cash buyout by Gateway 2000 Inc., the nation's biggest direct marketer of personal computers, the companies announced Thursday. The acquisition will provide Gateway with a much-desired entree to the corporate market. Irvine-based Advanced Logic, though profitable on its own, will gain the brand name, deeper pockets and distribution channels of the larger company. Advanced Logic rose $2.

Irvine microcomputer maker Advanced Logic Research Inc. agreed to a $194-million, $15.50-a-share cash buyout by Gateway 2000 Inc., the nation's biggest direct marketer of personal computers, the companies said Thursday. The acquisition will provide Gateway with a much-desired entree to the corporate market. Advanced Logic will become a wholly owned subsidiary of Gateway.

Westinghouse Electric Corp. said its first-quarter loss widened more than expected as the poor performance of its CBS television unit offset strong results at its radio network. The company lost $151 million, or 23 cents a share, compared with a loss of $114 million, or 26 cents, before gains, charges and asset sales in the year-earlier period. The 1997 per-share results reflect a 46% increase in shares outstanding to 642 million.

Gateway 2000 Inc. overtook Cupertino-based Apple Computer Inc. in the second quarter as the No. 1 provider of desktop and portable computers in the U.S. educational market, according to Computer Intelligence, a market research firm. North Sioux City, S.D.-based Gateway, which sells solely through mail order, commanded 22.4% of the educational market in the quarter. Apple had 11.6% and International Business Machines Corp. had 7.7%. Shares of Gateway 2000 rose 31 cents to close at $40.