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Meade Instruments Corp

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BUSINESS
September 22, 2000
* Meade Instruments Corp. said earnings in its fiscal second quarter grew 27% to $3.3 million, or 21 cents a share. The Irvine-based maker of telescopes and other accessories for amateur astronomers said sales jumped 47% to $35.6 million.
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BUSINESS
July 5, 2013 | By Shan Li and Ronald D. White, Los Angeles Times
Directors of Meade Instruments Corp., which has helped foster the consumer market with its easy-to-use telescopes and binoculars since 1972, may be tipping their hand by Monday on whether to recommend selling the company, plow ahead alone or possibly seek bankruptcy protection. The Irvine company, fighting a sharp drop in sales, is weighing two buyout offers, one from a Chinese company and another from a San Jose venture capital firm. Meade said that if the deals are rejected, the company may opt to file a bankruptcy petition.
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BUSINESS
June 19, 1998
Irvine-based Meade Instruments Corp., a designer and maker of telescopes and related accessories, reported first quarter net income of $554,000, or 8 cents a share, up from $2,000 a year ago. The figure a year ago included an adjustment of $374,000, or 7 cents a share. Sales for the quarter ended May 31 increased 17% to $14.8 million from $12.7 million.
BUSINESS
July 9, 2004 | From Bloomberg News
Meade Instruments Corp., the world's biggest maker of high-performance telescopes, and closest rival Celestron Acquisition said they had settled all patent litigation over tripods and telescope computers. Torrance-based Celestron agreed to pay Irvine-based Meade royalties equal to the greater of $100 per unit or 8% of Celestron's net revenue from telescopes that use technology developed by Meade to level the scopes and enable them to find true north.
BUSINESS
July 1, 1997
Meade Instruments Corp., designer and manufacturer of telescopes and accessories, posted net income of $2,000 for the first fiscal quarter ended May 31, which included a nonrecurring adjustment of $374,000, or 7 cents per share. A net loss of $123,000, or 3 cents a share, was recorded for the like period last year. Sales increased 76% to $12.7 million from $7.2 million.
BUSINESS
September 21, 2001
* Meade Instruments Corp., an Irvine designer and manufacturer of telescopes, accessories and binoculars, reported that net income fell to $760,000, or 5 cents a share, for the second quarter from $2.6 million, or 17 cents a share, a year ago. Sales declined 24% to $27.2 million as the soft economy depressed sales of most major products, the company said.
BUSINESS
December 17, 1999
Meade Instruments Corp., the Irvine designer and manufacturer of telescopes and accessories, posted third-quarter net income of $7.7 million, or $1.01 a share, 97% higher than the $3.9 million, or 56 cents a share, for the like period last year. Sales for the quarter ended Nov. 30 more than doubled to $63.7 million from $31.2 million.
BUSINESS
August 18, 2000
Meade Instruments Corp.'s stock moved up Thursday after analyst Brion D. Tanous at First Security Van Kasper raised his rating of the shares to "buy" from "accumulate." Shares of the Irvine maker of telescopes and accessories rose 11.3%, or $1.75, to $17.25 in Nasdaq trading. The stock has climbed more than 69% over the last year, but is less than half of its high of $39.50, which it hit March 30.
BUSINESS
April 8, 1999 | Leslie Earnest
Telescope and binocular maker Meade Instruments Corp. said it will take a fourth-quarter charge of about $700,000 stemming from the bankruptcy of Service Merchandise Co., one of its largest customers. Irvine-based Meade said it still will show a fourth-quarter profit when it reports fourth-quarter and year-end financial results April 22. Service Merchandise accounted for slightly less than 10% of Meade's total sales in 1998, down from about 14% the previous year.
BUSINESS
May 28, 2003 | From Bloomberg News
Celestron International Inc., the second-largest maker of high-performance telescopes, didn't infringe a patent held by larger rival Meade Instruments Corp., a federal judge ruled. The judge in Santa Ana granted Celestron's request to dismiss the claim before trial, the Torrance-based firm said. The patent covers a process that uses global positioning satellite gear and computers to find objects in the sky.
BUSINESS
April 22, 2003 | Hanah Cho, Times Staff Writer
The founder of telescope manufacturer Meade Instruments Corp., who headed the Irvine company for most of its 31-year history, will resign as chairman and chief executive effective May 31. John Diebel, 59, will remain a director and become a consultant for Meade, which he founded in 1972, the company announced Monday. Diebel said it was the "right time" for him to step down, citing his 60th birthday in July and confidence in the men who will take over the company. Steven G.
BUSINESS
June 21, 2002
* Odetics Inc. has sold its headquarters complex in Anaheim to real estate investors 1515 South Manchester LLC in a sale-lease-back transaction valued at $22 million. * Meade Instruments Corp. said its fiscal first-quarter loss narrowed to $507,000, or 3 cents a share, from $798,000, or 5 cents, a year ago. Sales rose 25% to $20.1 million.
NEWS
June 6, 2002 | Bloomberg News
Meade Instruments Corp. said Wednesday that it has filed a patent-infringement lawsuit against rival Celestron International Inc., a week after the U.S. government sought to block Meade from buying the rival telescope-maker. The lawsuit, filed against Celestron and its parent, Tasco Worldwide Inc., also names any prospective buyers of Tasco or Celestron. Meade, based in Irvine, said the suit also names James S.
BUSINESS
September 21, 2001
* Meade Instruments Corp., an Irvine designer and manufacturer of telescopes, accessories and binoculars, reported that net income fell to $760,000, or 5 cents a share, for the second quarter from $2.6 million, or 17 cents a share, a year ago. Sales declined 24% to $27.2 million as the soft economy depressed sales of most major products, the company said.
BUSINESS
April 20, 2001
The Irvine designer and manufacturer of telescopes and binoculars said it lost $4.7 million, or 31 cents a share, for the fourth quarter ended Feb. 28, which included pretax charges of $6.1 million against inventories and accounts receivable and $1.4 million from excess inventories and bad-debt expenses brought on by customer bankruptcies. A year ago, the company earned $899,000, or 6 cents a share. Sales rose 2% to $22.2 million. For the year, net income totaled $1.
BUSINESS
September 26, 1997
Meade Instruments Corp., a designer and manufacturer of telescopes and accessories, reported record net income of $633,000, or 9 cents a share, for its fiscal second quarter, which ended Aug. 31. The profit was a major increase over net income of $53,000, or 2 cents a share, for the same quarter last year. Quarterly sales grew 3% to $12.3 million from $12 million.
BUSINESS
December 21, 2000 | From Dow Jones Newswires
Meade Instruments Corp.'s stock took a beating on Wall Street on Wednesday, a day after the Irvine telescope maker posted disappointing quarterly results. The stock slumped 33%, or $1.56 a share, to $3.81 in Nasdaq trading after Meade posted earnings of 13 cents a share for the third quarter ended Nov. 30, far below analysts' estimates of 41 cents a share.
BUSINESS
December 20, 2000
Meade Instruments Corp. posted lower-than-expected profits and sales for the fiscal third quarter. The Irvine manufacturer of telescopes, accessories and binoculars reported that third-quarter net income dropped to $2 million, or 13 cents a share, from $7.7 million, or 50 cents a share, a year ago. Analysts were expecting quarterly earnings of 41 cents a share, according to a survey by First Call/Thomson. Sales for the quarter ended Nov. 30 declined 33% to $42.4 million.
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