July 5, 2013 |
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.
November 4, 2000 |
Meade Instruments Corp.'s stock tumbled to a 52-week low Friday after the Irvine maker of telescopes and accessories said its fiscal third-quarter profit and sales will fall below forecasts because of lower demand and the weakness of the euro against the dollar. The shares fell to $9.25, the lowest price over the past year, before closing at $10.25, down $4.81, or 32% for the day. Meade said earnings could be as low as 40 cents a share for the three months ending Nov. 30.
April 23, 1999
Meade Instruments Corp.: The Irvine designer and manufacturer of telescopes and accessories reported that net income for the fourth fiscal quarter rose to $459,000, or 6 cents a share, from $192,000, or 3 cents a share, for the comparable period a year ago. Sales for the quarter ended Feb. 28 increased 37% to $14.8 million from $10.8 million. Net income for the year reached a record $5.6 million, or 80 cents a share, 65% higher than the $3.4 million, or 52 cents a share, for the prior year.
September 20, 1998
Meade Instruments Corp., Irvine-based telescope and binocular manufacturer, reported record net income for the second fiscal quarter on a 25% gain in sales. The company earned $690,000, or 10 cents a share, up 9% from $633,000, or 9 cents a share, for the year-earlier period. Sales for the quarter ended Aug. 31 rose to $15.4 million from $12.3 million. Net income for the six months rose 96% to $1.
May 6, 2000 |
Meade Instruments Corp., a telescope and binocular maker that has seen its stock surge nearly sixfold in the past year, will split its shares 2-for-1. The split will occur about June 19 for shareholders of record May 22. The Irvine company will have about 16.4 million shares outstanding after the split, its first since it went public in 1997. Meade shares on Friday rose $3.50, or 5.1%, to $72.50 in Nasdaq trading.
December 17, 1997 |
A healthy economy and strong Christmas season sales are keeping Meade Instruments Corp. on track to meet or slightly exceed Wall Street's earnings expectations for its fiscal third quarter, Chairman and Chief Executive John Diebel said Tuesday. The Irvine-based telescope manufacturer expects to report earnings of about $2.5 million, or 36 to 37 cents a share, for the three months ended Nov. 30, which would be in line with analysts' estimates of 36 cents.
April 10, 1997 |
Meade Instruments Corp. shares rose 5% on their first day of trading. Shares in the maker of telescopes and astronomy equipment, which initially had been priced at $7, rose 37.5 cents to $7.375 as 899,100 shares changed hands. Meade said the initial public offering, which was priced below the anticipated range of $8 to $10 per share, is expected to generate $15.6 million, which it will use to repay debt and redeem outstanding preferred stock. The company issued 3.4 million shares.
January 9, 1987
A Missouri holding company said it has acquired Meade Instruments Corp., a Costa Mesa maker of telescopes, binoculars and other optical instruments. Officials of Harbour Group Ltd., a privately held St. Louis company, would not disclose the terms of the acquisition, but a spokesman said Harbour "plans to pump cash" into Meade Instruments. The Costa Mesa company employs about 100 people and reported 1986 sales of approximately $13 million.
May 9, 2000 |
Meade Instruments Corp., a telescope and binocular maker, is almost doubling the size of its assembly plant in Tijuana and adding 70 workers to help it manufacture two telescopes introduced Monday. The additional workers in Tijuana will bring the total there to about 150. The plant will grow to 50,000 square feet from 26,000. Meade said it also plans to continue adding optical and mechanical manufacturing capacity at its Irvine headquarters.