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NEWS
May 8, 1985 | From Times Wire Services
A federal judge today sentenced former Deputy Secretary of Defense Paul Thayer and his friend, Dallas stockbroker Billy Bob Harris, to four years in prison for giving false information to the Securities and Exchange Commission during an investigation into their insider trading. U.S. District Judge Charles R. Richey also levied fines of $5,000 each on Thayer and Harris and ordered them to surrender to the U.S. Bureau of Prisons in Texas by 1 p.m. next Monday.
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BUSINESS
January 7, 1999
Richey Electronics Inc. said Wednesday that its shareholders approved a bid by Arrow Electronics Inc. to purchase the Garden Grove-based electronics distributor for about $96.5 million in cash. The deal is scheduled to be completed today. Richey will become a wholly owned subsidiary of New York-based Arrow, the world's largest distributor of electronic components.
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CALIFORNIA | LOCAL
October 28, 1985
Orange County sheriff's deputies arrested two transients on suspicion of burglarizing a Tustin home Sunday, authorities said. The deputies credited an alert Tustin man, who heard someone breaking into a neighbor's home, with foiling the burglary. Sheriff's Lt. Larry Richey said the homeowners were away for the weekend. Deputies called to the scene arrested Dolores Rio Aguayo, 46, and Johnny David Aguayo, 53, about half a block from the residence in the 1900 block of Burnt Mill Road.
BUSINESS
October 28, 1998
The Garden Grove distributor of electronic components posted third-quarter net income of $1.2 million, or 13 cents a share, down 25% from the $1.6 million, or 17 cents a share, for the 1997 third quarter. Sales for the third quarter ended Oct. 2 declined 13% to $56.9 million from $65.1 million. Richey has signed a definitive agreement to be acquired by Arrow Electronics Inc. The transaction is expected to close around year's end.
CALIFORNIA | LOCAL
September 29, 1985 | James S. Granelli \f7
A 47-year-old Tustin man drowned Saturday while scuba diving with two friends about half a mile off the San Clemente Pier, the Orange County Sheriff's Department reported. The victim was identified as Lray Nield. Sheriff's Lt. Larry Richey said that Nield was a certified diver in good condition and that his equipment was in good working order. He theorized that the man died of natural causes. An autopsy is scheduled today, according to Richard Slaughter, supervising deputy coroner.
BUSINESS
June 15, 1997 | (Dow Jones)
Richey Electronics Inc. said it has completed its acquisition of Simmonds Capital Ltd.'s Simmonds Technologies Inc. unit, a Toronto-based distributor of electronic components. Richey said the acquisition could dilute its earnings in the third and fourth quarters this year. Richey refinanced Simmonds Technologies bank debt and issued to Simmonds Capital a warrant to purchase about 200,000 Richey shares at about $10 per share.
BUSINESS
March 26, 1996
Richey Electronics Inc., a manufacturer of electronic components, said Monday it has completed the private sale of $5.75 million in 7% convertible subordinated notes due March 1, 2006. Proceeds from the notes, which are convertible into Richey common shares at $14.125 each, will be used to repay debt.
BUSINESS
March 8, 1994
Richey Electronics Inc., which distributes computer components such as power supplies, reported year-end earnings of $707,000 on revenue of $64.9 million. That compares with year-ago earnings of $442,000 on revenue of $31.3 million. Results for the year include nine months of combined operations of RicheyImpact and Brajdas Corp. The latter, formerly of Santa Clara, purchased RicheyImpact in Garden Grove in April. Three months of results are from RicheyImpact alone.
BUSINESS
June 13, 1996
Saul Levy and an investment company he controls cut their stake in Richey Electronics Inc. to 3.5% from 5.7% of common shares outstanding. The investors sold 200,000 shares on May 14, according to a report filed Wednesday with the Securities and Exchange Commission. Levy and his company, First Investment Group, now hold 318,863 shares in Richey, a Garden Grove distributor of electronic components.
BUSINESS
March 1, 1996
Richey Electronics Inc. completed the private placement of $50 million of its 7% convertible subordinated notes due March 1, 2006. Richey, which distributes electronic components, said that the notes are convertible into common stock at $14.125 a share and would translate into 3.54 million common shares. Net proceeds from the sale will be used to repay debt, the company said.
BUSINESS
October 2, 1998 | JONATHAN GAW, TIMES STAFF WRITER
In a move to consolidate the sagging electronics distribution industry, a New York company will pay more than $280 million to acquire Garden Grove-based Richey Electronics Inc. and a majority of Bell Industries Inc. of El Segundo, the companies announced Thursday. The acquisitions by Arrow Electronics Inc. of Melville, N.Y.
BUSINESS
June 23, 1998 | Dow Jones
Richey Electronics Inc., in a gloomy forecast, said Monday that second-quarter operating profits are likely to be below analysts' expectations and that it plans to take a $1-million pretax restructuring charge to account for a downturn in business. The Garden Grove provider of electronic parts and services said that "extensive weakness" in the electronics market isn't likely to improve through the remainder of the year. Richey is taking steps to cut costs by $12 million, or 25%.
BUSINESS
February 26, 1998
Richey Electronics Inc., a distributor of electronic components, posted flat earnings for the fourth quarter, while sales rose 23%. The company said net income for the three months totaled $1.9 million, or 20 cents a share, unchanged from a year ago. Sales rose to $69 million from $55.9 million. Net income for the year increased 8% to $7 million, or 73 cents a share, from $6.5 million, or 70 cents a share, in 1996. Sales were up 11% to $250.2 million from $226.2 million.
CALIFORNIA | LOCAL
July 26, 1997 | RICHARD WARCHOL, SPECIAL TO THE TIMES
Brent Richey reached for each day with the fury of a man who understood life's passing nature. By age 26, he had earned two bachelor's degrees, interned for a U.S. senator, worked as a sportswriter, started his own business and completed three years of law school. He found spare time where others couldn't, playing bass in a church band, even coaching a Van Nuys softball team while working at a law firm and taking classes at Loyola Law School.
CALIFORNIA | LOCAL
July 26, 1997 | RICHARD WARCHOL, SPECIAL TO THE TIMES
Brent Richey reached for each day with the fury of a man who understood life's passing nature. By age 26, he had earned two bachelor's degrees, interned for a U.S. senator, worked as a sportswriter, started his own business and completed three years of law school. He found spare time where others couldn't, playing bass in a church band, even coaching a Van Nuys softball team while working at a law firm and taking classes at Loyola Law School.
BUSINESS
June 15, 1997 | (Dow Jones)
Richey Electronics Inc. said it has completed its acquisition of Simmonds Capital Ltd.'s Simmonds Technologies Inc. unit, a Toronto-based distributor of electronic components. Richey said the acquisition could dilute its earnings in the third and fourth quarters this year. Richey refinanced Simmonds Technologies bank debt and issued to Simmonds Capital a warrant to purchase about 200,000 Richey shares at about $10 per share.
BUSINESS
December 21, 1995
Richey Electronics Inc. said Wednesday it has completed its acquisition of Deanco Inc. of Santa Clara for $34.1 million in stock and will assume $19.3 million in Deanco debt. Richey, an electronic components distributor based in Garden Grove, said the acquisition will broaden its distribution reach in key American markets. The combined company becomes the 16th-largest electronics distributor in the United States, with 1995 sales estimated at $221 million.
BUSINESS
May 2, 1997 | (Bloomberg News)
Richey Electronics Inc. shares fell 26% in heavy trading Thursday after the electronic components distributor said it may not make its second-quarter earnings target because of lower orders. Shares in the maker of electronic parts used in computers, medical devices and other products fell $2.625 to $7.50. A total of 895,500 share changed hands, more than 27 times the three-month daily average of 32,900. Earlier, the stock touched $5.75, its lowest level in more than a year.
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