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Meade Instruments Corp

BUSINESS
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.
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BUSINESS
May 6, 2000 | Bloomberg News
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.
BUSINESS
April 10, 1997 | Bloomberg News
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.
BUSINESS
November 4, 2000 | Bloomberg News
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.
BUSINESS
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.
BUSINESS
May 9, 2000 | From Bloomberg News
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.
BUSINESS
June 29, 1999 | Times wire services
Meade Instruments Corp. said that its top two executives will began selling off their stock in the publicly traded company in a series of quarterly transactions beginning next month. John C. Diebel, chairman of the board and chief executive of the Irvine-based Meade, which makes telescopes, intends to sell 25,000 shares each quarter, and Steven G. Murdock, president and chief operating officer, plans to sell 15,000 shares per quarter. Meade's stock hit an all-time high of $17.
BUSINESS
November 26, 1998 | E. Scott Reckard
Telescope and binocular maker Meade Instruments Corp. said Wednesday that it will move 40 light-assembly jobs to a factory it is building in Tijuana. Meade said it expects few if any jobs will be lost among permanent employees at its Irvine headquarters, which employs about 350 people. Many current light assembly workers are temporary hires and others will be offered jobs elsewhere in the company, Chief Financial Officer Brent W. Christensen said.
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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