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Raycomm Transworld Industries

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BUSINESS
December 29, 1992
Raycomm Transworld Industries Inc., an Encino-based provider of temporary technical personnel, posted a $1.26-million loss for its fiscal second quarter, compared with a $750,000 loss a year earlier. The latest loss in the quarter that ended Sept. 30 included $500,000 in restructuring costs and came despite a 5% increase in Raycomm's revenue, to $18.1 million from $17.3 million. For the first half of its fiscal year, Raycomm lost $1.37 million, compared with a year-earlier loss of $1.
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BUSINESS
February 9, 1993 | DON LEE, TIMES STAFF WRITER
Two years ago, Raycomm Transworld Industries in Encino was going broke trying to provide temporary engineers to Southern California's shrinking aerospace industry. So it bought a labor-supply firm in Houston called Flex Staff, hoping its broader clientele would cushion Raycomm against further losses. But now, this small acquisition is giving Raycomm a Texas-size headache.
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BUSINESS
September 10, 1991
Raycomm Transworld Industries, an Encino-based provider of temporary technical personnel, said it acquired Flex-Staff Inc., a Texas company that also provides temporary personnel and payroll services. Raycomm bought privately held Flex-Staff for $400,000 and 25% of Flex-Staff's annual gross profit over the next four years, according to a filing Raycomm made with the Securities and Exchange Commission. In the six months that ended June 30, Flex-Staff had revenue of $10.
BUSINESS
December 29, 1992
Raycomm Transworld Industries Inc., an Encino-based provider of temporary technical personnel, posted a $1.26-million loss for its fiscal second quarter, compared with a $750,000 loss a year earlier. The latest loss in the quarter that ended Sept. 30 included $500,000 in restructuring costs and came despite a 5% increase in Raycomm's revenue, to $18.1 million from $17.3 million. For the first half of its fiscal year, Raycomm lost $1.37 million, compared with a year-earlier loss of $1.
BUSINESS
February 9, 1993 | DON LEE, TIMES STAFF WRITER
Two years ago, Raycomm Transworld Industries in Encino was going broke trying to provide temporary engineers to Southern California's shrinking aerospace industry. So it bought a labor-supply firm in Houston called Flex Staff, hoping its broader clientele would cushion Raycomm against further losses. But now, this small acquisition is giving Raycomm a Texas-size headache.
BUSINESS
October 29, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Although Raycomm Transworld Industries Inc. suffered major losses in the late-1980s, Chairman Robert Fain thought he had the Encino-based company on the road to recovery. He thought wrong. Raycomm is the Kelly Girl of engineers, a provider of temporary technical personnel who mainly work in the aerospace and defense industries. Fain and his management team had already bolstered the company's balance sheet, sold unprofitable assets and cut costs.
BUSINESS
January 21, 1992 | JAMES F. PELTZ, TIMES STAFF WRITER
A plan for mandatory health insurance for U.S. workers, proposed by leading congressional Democrats, is causing ill feelings among some companies based in the San Fernando Valley and Ventura County. "I don't like it at all," said Richard K. Herzer, chairman of IHOP Corp., the Glendale parent of the International House of Pancakes restaurant chain. "It's economically unfeasible."
BUSINESS
September 26, 1989
Raycomm Transworld Industries, an Encino-based firm that provides temporary engineering and technical support services to the aerospace and defense industries, said it plans to acquire the 16%, or 151,000 shares, of Mainstream Engineering Co. that it doesn't already own. Raycomm said in a Securities and Exchange Commission filing that it would offer one Raycomm class B preferred share and a warrant to purchase three Raycomm common shares for each 1.5 Mainstream shares.
BUSINESS
March 12, 1991
Astro Sciences Corp., a Chatsworth company that makes products that allow computers to communicate with each other, said it settled a $1.2-million debt with its former parent company by issuing preferred stock. Astro Sciences issued 300,000 shares of the preferred stock to Raycomm Transworld Industries Inc., based in Freehold, N.J. The preferred stock bears a 3% cumulative dividend rate, holds no voting rights and can be converted to common stock.
BUSINESS
June 14, 1988 | GREGORY CROUCH, Times Staff Writer
Three years ago, H. Robert Kingston boasted he was going to make his small company a lot bigger. Kingston, 65, is president of Mainstream Engineering in Encino, a firm that provides aerospace and defense companies with temporary technicians and engineers. It's more Rosie the Riveter than Kelly Girl, but the idea is the same: supplying temporary personnel.
BUSINESS
January 21, 1992 | JAMES F. PELTZ, TIMES STAFF WRITER
A plan for mandatory health insurance for U.S. workers, proposed by leading congressional Democrats, is causing ill feelings among some companies based in the San Fernando Valley and Ventura County. "I don't like it at all," said Richard K. Herzer, chairman of IHOP Corp., the Glendale parent of the International House of Pancakes restaurant chain. "It's economically unfeasible."
BUSINESS
October 29, 1991 | JAMES F. PELTZ, TIMES STAFF WRITER
Although Raycomm Transworld Industries Inc. suffered major losses in the late-1980s, Chairman Robert Fain thought he had the Encino-based company on the road to recovery. He thought wrong. Raycomm is the Kelly Girl of engineers, a provider of temporary technical personnel who mainly work in the aerospace and defense industries. Fain and his management team had already bolstered the company's balance sheet, sold unprofitable assets and cut costs.
BUSINESS
September 10, 1991
Raycomm Transworld Industries, an Encino-based provider of temporary technical personnel, said it acquired Flex-Staff Inc., a Texas company that also provides temporary personnel and payroll services. Raycomm bought privately held Flex-Staff for $400,000 and 25% of Flex-Staff's annual gross profit over the next four years, according to a filing Raycomm made with the Securities and Exchange Commission. In the six months that ended June 30, Flex-Staff had revenue of $10.
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