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.
September 12, 2001 |
The attack on New York's towering World Trade Center complex Tuesday struck one of the main U.S. financial centers, wiping out much of the largest trading company in Treasury securities and probably crippling several big brokerages and the Oppenheimer mutual funds. Though it is unclear how many people died in the attack, many of the victims probably worked in the investment, banking and insurance industries because of the nature of the tenants of the building.