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International Rectifier Corp

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BUSINESS
February 6, 2009 | Martin Zimmerman
International Rectifier Corp. said Thursday it would close its El Segundo semiconductor plant as part of a plan to slash its global workforce 18%. The El Segundo company announced the closure after reporting a fiscal second-quarter loss of $186.1 million, or $2.56 a share. The company reported a profit of $313,000 in the same quarter a year earlier. International Rectifier said it planned to eliminate 850 jobs in the current fiscal year, which ends June 30.
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BUSINESS
April 13, 2006 | From Bloomberg News
International Rectifier Corp., a maker of semiconductors that manage power use, said it might sell its Non-Focus Products unit to concentrate on divisions that generate higher profit margins. The El Segundo-based company may boost earnings faster by focusing on units that make semiconductors designed for specific products such as air conditioners and refrigerators, a spokesman said. He declined to say when the unit would be sold or for how much.
BUSINESS
October 14, 2008 | From the Associated Press
Chip maker Vishay Intertechnology Inc. said Monday that it had dropped its offer to buy El Segundo-based International Rectifier Corp.'s outstanding shares for $23 apiece. Vishay shares shot up $1.01, or 23%, to $5.40. International Rectifier shares also rose, gaining $1.49, or 10.7%, to $15.46. Malvern, Pa.
BUSINESS
December 24, 2002 | From Bloomberg News
International Rectifier Corp., an El Segundo-based semiconductor maker, said costs for job cuts, plant closings and write-downs will cut second-quarter earnings by $180 million to $210 million. International Rectifier didn't say how many jobs were being cut but said severance costs will be about $20 million to $25 million, more than the $15 million to $20 million previously announced. The company is cutting jobs and consolidating factories to reduce expenses.
BUSINESS
June 2, 2000 | Bloomberg News
International Rectifier Corp. said it expects an increase of more than 60% in fiscal 2000 sales of its chips, which are used to protect cellular phones and computers from damage caused by electrical surges. Sales are being spurred by the growing use of cellular phones and concerns by companies about malfunctions caused by power glitches, said Shelly Wagers, the company's vice president of communications.
BUSINESS
January 21, 2000 | JAMES F. PELTZ, TIMES STAFF WRITER
International Rectifier Corp., as even its name implies, isn't in the sexiest end of the semiconductor industry. But dull is delightful these days for the company and its investors. Bolstered by several new products, a resurgent semiconductor industry, in-house cost cutting and soaring demand for wireless phones and other electronic gadgets that use its chips, International Rectifier's sales, profit and stock price have all been rebounding over the last few quarters.
BUSINESS
August 12, 1985
El Segundo-based International Rectifier Corp. named John Basista to the newly created post of vice president-national accounts.
BUSINESS
October 3, 2007 | Alex Pham, Times Staff Writer
The chief executive of International Rectifier Corp. resigned Tuesday, becoming the third and highest-ranking executive to leave the El Segundo-based company amid an internal investigation of accounting irregularities. The semiconductor company, whose energy-saving chips can be found in Sony's PlayStation 3 video game console, had placed CEO Alex Lidow on leave Aug. 30. Company spokesman Graham Robertson declined to state a reason for Lidow's departure.
BUSINESS
August 31, 2007 | Alex Pham, Times Staff Writer
International Rectifier Corp., an El Segundo-based chip maker, said Thursday that Chief Executive Alex Lidow had been placed on paid leave pending completion of an internal investigation into accounting irregularities. General Counsel Donald Dancer was named acting CEO. The move followed the dismissal in July of the company's chief financial officer.
BUSINESS
January 25, 2003 | David Colker, Times Staff Writer
El Segundo-based electronic component maker International Rectifier Corp. will lay off approximately 600 workers, or about 10% of its worldwide workforce, and close five plants as the technology sector continues to struggle through a rut. Officials would not disclose Friday which of the company's 14 plants -- in California, New England, Mexico and several European countries -- would shut down until employees were notified next week.
BUSINESS
December 24, 2002 | From Bloomberg News
International Rectifier Corp., an El Segundo-based semiconductor maker, said costs for job cuts, plant closings and write-downs will cut second-quarter earnings by $180 million to $210 million. International Rectifier didn't say how many jobs were being cut but said severance costs will be about $20 million to $25 million, more than the $15 million to $20 million previously announced. The company is cutting jobs and consolidating factories to reduce expenses.
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