February 24, 2000 |
PairGain Technologies Inc., a pioneer in high-speed Internet communications and one of Orange County's major public companies, will be bought by a Minneapolis rival for $1.6 billion in stock. The purchase by ADC Telecommunications Inc., announced Wednesday, is expected to trigger a round of mergers among digital network-equipment makers.
February 4, 2000 |
Despite shrinking profit margins, financially troubled PairGain Technologies Inc. still managed to outperform Wall Street's expectations when it released its fourth-quarter earnings Thursday. For the final three months last year, the Tustin company reported a profit of $1.3 million, or 2 cents a share, a 64% drop from earnings of $3.6 million, or 5 cents a share, for the previous year's last quarter. The results still were better than Wall Street was expecting.
January 18, 2000 |
PairGain Technologies Inc. said Monday its Avidia System was picked to provide digital subscriber line, or DSL, service in southern Wisconsin. The Tustin telecommunications company said Chorus Communications Group Ltd.'s Mid-Plains Inc. chose the company's system. Financial terms weren't disclosed.
December 4, 1999 |
PairGain Technologies Inc. said it will cut an undetermined number of jobs from its 700-member work force and contract out some manufacturing to Monterrey, Mexico, by July to reduce costs. The telephone equipment maker said it hasn't determined how many workers it will fire at its headquarters in Tustin. The company has warned twice in the last year that earnings would miss forecasts as it lost business and cut prices to compete with rivals.
December 4, 1999 |
Tustin-based PairGain Technologies Inc., which has seen its profit margins squeezed this year by competitors, said Friday that it is moving most of its manufacturing operations to Mexico. Company officials said that fewer than 100 of its 600 employees in Orange County would lose their jobs. PairGain has more than 800 employees worldwide. The company said the transition, which began last month, would be completed by the middle of next year.
November 16, 1999 |
PairGain Technologies Inc., the Tustin-based telecommunications equipment maker, said Monday it planned to sell its microelectronics engineering development group. The company said the sale will let it focus on developing equipment that enables telecommunications carriers to handle various types of traffic, including voice and data. Broadview International is advising the company on the sale of the microelectronics division, which employs 40 engineers.