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Optical Radiation Corp

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BUSINESS
March 25, 1992 | From Times Staff and Wire Services
Shares of Azusa-based Optical Radiation Corp. plummeted Tuesday on a published report about a federal criminal inquiry into the firm's Orcolon eye gel, which allegedly can cause blindness. The Wall Street Journal, quoting sources it didn't identify, said Food and Drug Administration investigators were preparing a possible criminal case for the Justice Department to prosecute over the advertising and sale of Orcolon. Optical Radiation's stock plunged $4.25 to $24.
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BUSINESS
October 7, 1994 | From Times Staff and Wire Reports
Eyeglass Firm to Acquire Lens Maker: Benson Eyecare Corp., a distributor of sunglasses and over-the-counter reading glasses, said it will pay $140 million in cash and stock to acquire Optical Radiation Corp. Optical Radiation, which had sales of $158 million in fiscal 1993, makes lenses for eyeglasses and grinds them to fill prescriptions for independent opticians and optometrists. Benson has annual sales of about $150 million.
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BUSINESS
June 19, 1985
Optical Radiation Corp., Azusa, named Ronald S. Hyslop president of its Omega Optical Co. subsidiary in Dallas.
BUSINESS
December 29, 1993 | From Times Staff and Wire Reports
Optical Radiation Co-Founder Dies: Optical Radiation Corp. of Azusa said John Wilkinson died of an accidental gunshot wound on Christmas Day at his ranch in Montana. Wilkinson, 53, was semi-retired and, as senior vice president, served primarily as an adviser and member of the board, the company said. Details of the accident were unavailable. Optical Radiation makes precision equipment for medical, scientific and industrial uses.
BUSINESS
August 12, 1987
Optical Radiation Corp., Azusa, named William T. Sullivan vice president-consumer optical group, a newly created position.
BUSINESS
December 29, 1993 | From Times Staff and Wire Reports
Optical Radiation Co-Founder Dies: Optical Radiation Corp. of Azusa said John Wilkinson died of an accidental gunshot wound on Christmas Day at his ranch in Montana. Wilkinson, 53, was semi-retired and, as senior vice president, served primarily as an adviser and member of the board, the company said. Details of the accident were unavailable. Optical Radiation makes precision equipment for medical, scientific and industrial uses.
BUSINESS
October 7, 1994 | From Times Staff and Wire Reports
Eyeglass Firm to Acquire Lens Maker: Benson Eyecare Corp., a distributor of sunglasses and over-the-counter reading glasses, said it will pay $140 million in cash and stock to acquire Optical Radiation Corp. Optical Radiation, which had sales of $158 million in fiscal 1993, makes lenses for eyeglasses and grinds them to fill prescriptions for independent opticians and optometrists. Benson has annual sales of about $150 million.
BUSINESS
January 7, 1991 | From United Press International
Lens Suit Settled for $5.3 Million: Optical Radiation Corp. has agreed to pay a Southern California ophthalmologist $5.3 million to settle a patent infringement suit stemming from the company's manufacturing of multi-piece intraocular lenses, which are implanted in cataract patients. A federal judge had ruled earlier that the Azusa company had violated ophthalmologist Ronald P. Jensen's patent on lens manufacturing.
BUSINESS
March 25, 1992 | From Times Staff and Wire Services
Shares of Azusa-based Optical Radiation Corp. plummeted Tuesday on a published report about a federal criminal inquiry into the firm's Orcolon eye gel, which allegedly can cause blindness. The Wall Street Journal, quoting sources it didn't identify, said Food and Drug Administration investigators were preparing a possible criminal case for the Justice Department to prosecute over the advertising and sale of Orcolon. Optical Radiation's stock plunged $4.25 to $24.
BUSINESS
March 17, 1992 | From Times Staff and Wire Reports
Optical Radiation to Split in Two: The Azusa-based firm will create a new publicly traded company by spinning off its consumer optical group, which makes contact lens and prescription eye-wear. The division accounted for $82 million worth of Optical Radiation's $146 million in revenue last year. Shareholders will receive 1.5 shares of the new company for each Optical Radiation share held, if the Internal Revenue Service OKs the plan as a tax-free distribution. Chief Executive Richard D.
BUSINESS
October 22, 1991 | SUSAN MOFFAT, TIMES STAFF WRITER
Azusa-based Optical Radiation Corp. worked to restore investor confidence Monday after reports that one of its eye surgery products may cause increased intraocular pressure and possible blindness. The company's share price dropped $2.75 to $21.25 in the over-the-counter market Monday on a reports its Orcolon product had been recalled by the company. Meanwhile, the company announced that it was expanding a buyback of its shares from $30 million to $40 million.
BUSINESS
January 7, 1991 | From United Press International
Lens Suit Settled for $5.3 Million: Optical Radiation Corp. has agreed to pay a Southern California ophthalmologist $5.3 million to settle a patent infringement suit stemming from the company's manufacturing of multi-piece intraocular lenses, which are implanted in cataract patients. A federal judge had ruled earlier that the Azusa company had violated ophthalmologist Ronald P. Jensen's patent on lens manufacturing.
BUSINESS
July 4, 1990 | TOM PETRUNO
The year is half over. Have you made any money? If you dig through your portfolio, you might be surprised at what you find. Despite the turmoil in financial markets in the first six months of this year--as investors struggled with alternating inflation/deflation fears--it has actually been tough to lose money, on the average. * The typical growth-stock mutual fund, for example, gained 4.2% from Dec. 31 to last Friday, as a strong second quarter made up for a weak first quarter.
ENTERTAINMENT
May 30, 1990 | CHRIS WILLMAN
As originally created by cartoonist Chester Gould, policeman Dick Tracy was ahead of his time in popularizing a lot of modern crime-stopping technology--fingerprinting, night scopes, teletype, police radios and the like. This summer, the movie "Dick Tracy" will be used to introduce audiences to a new hiss-stopping technology--digital sound for movie theaters. Earlier this month Eastman Kodak and the Optical Radiation Corp.
BUSINESS
May 11, 1990 | TOM PETRUNO
Optical Radiation Corp. got its start making military searchlights in 1969. Now, the Azusa-based company hopes to find itself behind a different kind of searchlight--the ones outside movie theaters. Last week, ORC premiered for Hollywood executives a new digital sound system for movie theaters: Cinema Digital Sound. The system, which ORC and partner Eastman Kodak Co. have spent three years developing, seems to have wowed virtually everyone who's heard it.
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