Newcom Inc

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.

Two former executives of NewCom Inc., a defunct maker of computer accessories in Westlake Village, were sentenced Wednesday to two years each in federal prison for their roles in a scheme to book fake sales and deceive regulators and investors. NewCom's former chief executive, Sultan W. Khan of Pacific Palisades, and the company's former executive vice president, Asif M. Khan of Westlake Village, both 60, had asked to be given probation.

NewCom Inc. and Santa Ana-based Simple Technology Inc. said Thursday they have called off plans for Simple to sell a chunk of its business to the Westlake Village company, which makes computer peripherals. The companies attributed the decision to "current market conditions." NewCom's stock, which traded as high as $18 earlier this year, fell to a 52-week low of $2.38 a share last month. The shares closed Thursday at $4.75, off 44 cents.

Dealing a setback to the government's crackdown on corporate fraud, a Los Angeles federal jury Wednesday acquitted a former computer firm executive of charges that he filed inflated financial reports and lied under oath to regulators. Steven C. Veen, who was NewCom Inc.'

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.

Westlake Village-based Newcom Inc. said it expects to be delisted from the Nasdaq 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.

Two former officers of NewCom Inc., a defunct computer gear maker in Westlake Village, agreed to plead guilty one week before their trial was to begin on charges of booking fake sales and falsifying Securities and Exchange Commission reports, prosecutors said Wednesday. Former NewCom Chief Executive Sultan W. Khan, 58, of Pacific Palisades pleaded guilty Wednesday before U.S.

Computer product maker Simple Technology Inc., which was founded by three brothers in 1990 and quickly became a success, said Friday it plans to sell a chunk of its business to NewCom Inc., a Westlake Village company that makes computer peripherals, such as modems and sound boards. NewCom will buy the Santa Ana-based company's so-called aftermarket business, which focuses on products designed to be added by PC users after they purchase the machines.

Three officers and a director of NewCom Inc., a defunct Westlake Village tech firm, were charged Thursday with falsifying company financial records in a case federal prosecutors portrayed as an example of the Bush administration's pledge to crack down on corporate greed. The criminal fraud and conspiracy case is the latest development in a long investigation of NewCom and its majority owner, Aura Systems Inc. of El Segundo.

Two former executives of NewCom Inc., a defunct maker of computer accessories in Westlake Village, were sentenced Wednesday to two years each in federal prison for their roles in a scheme to book fake sales and deceive regulators and investors. NewCom's former chief executive, Sultan W. Khan of Pacific Palisades, and the company's former executive vice president, Asif M. Khan of Westlake Village, both 60, had asked to be given probation.

Two former officers of NewCom Inc., a defunct computer gear maker in Westlake Village, agreed to plead guilty one week before their trial was to begin on charges of booking fake sales and falsifying Securities and Exchange Commission reports, prosecutors said Wednesday. Former NewCom Chief Executive Sultan W. Khan, 58, of Pacific Palisades pleaded guilty Wednesday before U.S.

Three officers and a director of NewCom Inc., a defunct Westlake Village tech firm, were charged Thursday with falsifying company financial records in a case federal prosecutors portrayed as an example of the Bush administration's pledge to crack down on corporate greed. The criminal fraud and conspiracy case is the latest development in a long investigation of NewCom and its majority owner, Aura Systems Inc. of El Segundo.

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.

Westlake Village-based Newcom Inc. said it expects to be delisted from the Nasdaq 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.

NewCom Inc. and Santa Ana-based Simple Technology Inc. said Thursday they have called off plans for Simple to sell a chunk of its business to the Westlake Village company, which makes computer peripherals. The companies attributed the decision to "current market conditions." NewCom's stock, which traded as high as $18 earlier this year, fell to a 52-week low of $2.38 a share last month. The shares closed Thursday at $4.75, off 44 cents.

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.

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.

Dealing a setback to the government's crackdown on corporate fraud, a Los Angeles federal jury Wednesday acquitted a former computer firm executive of charges that he filed inflated financial reports and lied under oath to regulators. Steven C. Veen, who was NewCom Inc.'

Computer product maker Simple Technology Inc., which was founded by three brothers in 1990 and quickly became a success, said Friday it plans to sell a chunk of its business to NewCom Inc., a Westlake Village company that makes computer peripherals, such as modems and sound boards. NewCom will buy the Santa Ana-based company's so-called aftermarket business, which focuses on products designed to be added by PC users after they purchase the machines.

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.