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Luminent Inc

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CALIFORNIA | LOCAL
February 6, 2001
Luminent Inc. of Chatsworth reported net income for the fourth quarter that ended Dec. 31 of $3.9 million, compared with $984,000 for the same period last year. Revenue rose to $45.2 million from $18.6 million. For the year that ended Dec. 31, the company reported net income of $7.7 million over $4.2 million for the previous year. Revenue for the year nearly doubled to $124.2 million over $65.3 million.
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CALIFORNIA | LOCAL
February 6, 2001
Luminent Inc. of Chatsworth reported net income for the fourth quarter that ended Dec. 31 of $3.9 million, compared with $984,000 for the same period last year. Revenue rose to $45.2 million from $18.6 million. For the year that ended Dec. 31, the company reported net income of $7.7 million over $4.2 million for the previous year. Revenue for the year nearly doubled to $124.2 million over $65.3 million.
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BUSINESS
October 7, 2000 | Bridge News
Chatsworth-based MRV Communications Inc., a fiber-optics components maker, filed a registration statement with the Securities and Exchange Commission for a $108-million initial public offering of its wholly owned unit Optical Access Inc. MRV didn't say how many shares will be offered or what it will sell them for, but said proceeds of the offering will be used for general corporate purposes.
BUSINESS
August 2, 2001
Lowe Enterprises, a national real estate investment, management and development firm in Los Angeles, has named Richard G. Newman executive vice president of Lowe Enterprises Commercial Group. Previously, Newman was a management information consultant with Andersen in San Francisco. Colliers Seeley Colliers Seeley International has named Catherine Rubenstein vice president in the firm's Investment Services Group in Irvine.
BUSINESS
July 6, 2001 | RICHARD VERRIER, TIMES STAFF WRITER
Luminent Inc., a Chatsworth provider of fiber-optic components, said Thursday that it will cut one-third of its work force, or about 600 jobs, by the end of the year. The cost-cutting move is a response to a softening demand for its products, which are used for high-capacity data transmission. The cuts, which began earlier this year, will leave Luminent with 1,200 employees.
CALIFORNIA | LOCAL
May 2, 2000 | ANDREW BLANKSTEIN, TIMES STAFF WRITER
MRV Communications said Monday it had closed a deal to acquire Israel-based optical company Jolt Ltd., the first in a series of acquisitions it announced last week with the release of first-quarter earnings. The company also said last week that it will spend more than $250 million in company stock to acquire three companies that would become part of Luminent.
BUSINESS
November 4, 2000 | From Bloomberg News
Optical Communication Products Inc. shares climbed 63% in its first trading day Friday after the Chatsworth-based company raised $115.5 million in an initial public offering, finding demand even amid a slump in other optical-component stocks. Optical Communication sold 10.5 million shares--a 10% stake--at $11 each through UBS Warburg. That was in the company's $10-to-$12 range of expected pricing. The stock rose $6.88 to $17.88 on volume of 13.7 million shares.
BUSINESS
November 11, 2000 | ANDREW BLANKSTEIN, TIMES STAFF WRITER
Fiber-optics company Luminent Inc. was a disappointment out of the starting gate Friday, with the stock closing just 13 cents above its initial offering price of $12 a share. Luminent, a spinoff of Chatsworth-based MRV Communications Inc., was priced $1 below the bottom of the $13-to-$15 range predicted earlier in the week. When trading began the shares quickly fell as low as $10.75 before rebounding to end at $12.13. Volume was 12.2 million shares.
BUSINESS
November 10, 2000 | ANDREW BLANKSTEIN, TIMES STAFF WRITER
With two fiber-optics companies going public this month, and a third on the way early next year, Chatsworth is quietly emerging as a regional spawning ground for one of technology's hottest growth sectors. Today, shares of optical-components maker Luminent Inc., a spinoff of MRV Communications, will begin trading on Nasdaq under the symbol LMNE. The company late Thursday raised $144 million by selling 12 million shares at $12 each.
CALIFORNIA | LOCAL
January 9, 2001 | Karen Robinson-Jacobs
While Wall Street kicked off the millennium by taking most of tech to the woodshed, one San Fernando Valley-based company raked up share price gains that outstripped many marquee names in high tech. For the year, Van Nuys-based GenesisIntermedia.com Inc., which gets some of its revenue from tech-related ventures, gained 194.62%.
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