Advertisement
YOU ARE HERE: LAT HomeCollectionsRichey Electronics Inc
IN THE NEWS

Richey Electronics Inc

FEATURED ARTICLES
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.
ARTICLES BY DATE
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.
Advertisement
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.
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.
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
April 21, 1995
Richey Electronics Inc., an electronic components distributor, said that its public offering of 3 million shares of common stock at $5.50 a share was sold out Thursday to about 35 institutions and individual investors. With anticipated proceeds of $15.8 million, the company plans to pay off accumulated debt of about $14 million and will add the rest to its working capital for routine business needs.
BUSINESS
November 16, 1995 | GREG MILLER
Richey Electronics Inc., a distributor of electronics products, said that it has agreed to acquire Deanco Inc., an electronics distribution company based in Santa Clara. The transaction, which is expected to close by the end of the year, will create a company that ranks as one of the 20 largest electronics distributors in the United States, with 27 sales offices in 17 states, the companies said. Deanco, a privately held company, had sales of $77.
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
July 29, 1998
Richey Electronics Inc.: The Garden Grove-based distributor of electronic components said net income for the second quarter ended July 3 totaled $781,000, or 9 cents a share, which included restructuring costs of $1 million. For the same period last year, the company earned $1.7 million, or 18 cents a share. Sales grew 5% to $62.3 million from $59.3 million. First-half net income declined 15% to $2.9 million, or 31 cents a share, from $3.
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
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
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.
BUSINESS
September 5, 1996
Shares of Richey Electronics Inc. fell 21% Wednesday, a day after the company said its third-quarter results would would fall short of analysts' estimates. The wholesaler of electronic parts blamed the disappointing projection on a downturn in orders from computer and telecommunications manufacturers. The company said its customers are increasingly trying to keep inventory low by ordering products only when they are needed.
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.
Los Angeles Times Articles
|