July 21, 1997 |
NewCom Inc., a computer accessory distributor, is overdrawn at the bank by $23,507. It owes its parent company $17 million. Customers' unpaid bills exceed its revenue for the last six months. Now it wants to go public. The Westlake Village firm filed last week to sell as much as $17 million in stock in an initial public offering that would value the company at more than $75 million. The sale is the work of parent Aura Systems Inc.
CALIFORNIA | LOCAL
June 8, 1999 |
Newcom Inc. in Westlake Village said it expects to be delisted from the Nasdaq stock market after the seizure of the computer accessory distributor's inventory by its lender, the shuttering of its headquarters and the firing of its employees. Newcom said it hasn't sold a "material" amount of goods since January, when Deutsche Financial Services cut off Newcom's working capital line of credit.
April 14, 1998 |
NewCom Inc. in Westlake Village has been named the 1997 Most Improved Vendor of the Year for Peripherals by Computer City, the computer superstore retailer. NewCom was selected for the award based on its product sales in Computer City outlets, its customer service and the quality of its products. NewCom manufactures computer communications and multimedia equipment, including high-speed modems, CD-ROM drives, upgrade kits, Internet set-top boxes, and plug-and-play sound cards.
July 21, 1998 |
Edward A. Stoltenberg has accepted the post of chief financial officer at NewCom Inc. in Westlake Village. Stoltenberg has a long career in public accounting and has served as CFO in companies in all stages of development from start-ups to mature organizations. Previously, he worked at Arthur Andersen and Co. in both the United States and European operations.
June 23, 1998 |
NewCom Inc. in Westlake Village reported that for its fiscal year ended Feb. 28, the company showed an increase in net revenues of 85%, to $93.7 million from $50.6 million from the previous fiscal year. Net income for the year was $7.1 million, or 82 cents per share, compared with $3.3 million, or 44 cents per share, in the previous year. NewCom provides modems, soundboards, multimedia kits, 3D graphics cards, and Webpal--a TV set-top box for accessing Internet and e-mail from televisions.
January 20, 1998 |
NewCom Inc. in Westlake Village reported a net profit of $2.72 million or 29 cents per share for the third quarter that ended Nov. 30. This compares to a profit of $1.02 million or 13 cents per share for the comparable quarter in 1996. The company announced that net revenues for the third fiscal quarter were $30.17 million, up from $17.92 million a year earlier.