July 31, 2001 |
Optical Communication Products Inc., a maker of fiber-optic components, said it will fire about 110 employees, or 28% of its staff, because companies are spending less on communications gear. The Chatsworth-based company announced the cuts as it posted a 6.2% decline in fiscal third-quarter profit to $6.93 million, or 6 cents a share, missing analysts' average forecast of 7 cents. Revenue grew 36% to $39.
January 21, 1998 |
MRV Communications Inc. of Chatsworth said it will buy a unit of Simi Valley-based Whittaker Corp. to expand into the wide-area computer-networking and remote-access service markets. Whittaker, an aerospace engineering company, will sell Xyplex Inc. for $35 million in cash, plus warrants to purchase up to 500,000 shares of MRV at an exercise price of $35 a share. Xyplex makes wide-area-network routers, remote-access servers and other networking equipment.
June 15, 2000 |
Lucent Technologies Inc., the world's biggest telecommunications equipment maker, is preparing to spin off its microelectronics unit in a deal worth up to $40 billion, Business Week's Web site reported Wednesday. Officials at Murray Hill, N.J.-based Lucent declined to comment on the report. A deal to spin off the microelectronics unit, which makes computer chips, lasers and other components used in a variety of Lucent equipment, is expected to be announced within weeks, Business Week said.
November 11, 2000 |
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.
May 6, 1997
Companies with sales revenue of $50 million or more ranked by percentage increase in sales in 1996. The Gazelle 100 list on page 10 measures companies with sales from $10 million to $50 million. *--* 1996 1996 revenue revenue Rank Company (millions) % growth 1 Xylan Corp. $128 333% 2 Netscape Communications 346 310 3 Cymer Inc. 65 245 4 Osicom Technologies Inc. 81 201 5 Ascend Communications 661 196 6 Urohealth Systems Inc. 82 195 7 VISX Inc. 74 189 8 HS Resources Inc. 157 184 9 Calgene Inc.
October 28, 1997 |
Arco and Unocal Corp. on Monday both reported lower third-quarter earnings, though Arco's beat analysts' estimates because of stronger-than-expected refining profit on the West Coast. Arco was expected to post a bigger drop from the year-ago quarter, when the introduction of cleaner-burning gasoline in California raised pump prices and profit. Lower crude oil prices and a surge in gasoline demand in the 1997 quarter helped Arco's refining arm, bolstering earnings, analysts said.