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Robert Mondavi Corp

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BUSINESS
March 27, 2003 | From Bloomberg News
Robert Mondavi Corp. lowered its forecast for its fiscal third quarter and for the year because of weak demand and a grape glut and plans to cut 10% of its workforce. The company will have a loss in the quarter ending Monday of 5 to 10 cents a share, Mondavi said. Annual net income will be 91 to 96 cents a share. The company had expected third-quarter earnings of as much as 35 cents and full-year profit of as much as $2.35 a share. Shares of the Oakville, Calif.
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BUSINESS
December 23, 2004 | From Associated Press
A California wine country landmark changed hands Wednesday as shareholders of the Robert Mondavi Corp. approved a nearly $1.36-billion buyout by New York-based drinks giant Constellation Brands. The deal was approved at a meeting in San Francisco with more than 80% of votes cast by Class A shareholders and 94% of votes cast by Class B shareholders in favor of selling.
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BUSINESS
October 8, 2004 | From Associated Press
Robert Mondavi Corp. announced that founder Robert Mondavi's son Tim is stepping down as vice chairman and winegrower. Tim Mondavi will remain as consulting winegrower and as a member of the Napa, Calif.-based company's board. Company executives say his departure is unrelated to the resignation Monday of brother R. Michael Mondavi.
BUSINESS
October 25, 2004 | Jerry Hirsch, Times Staff Writer
One Wall Street analyst called it a "connoisseur's" bid. Another labeled it "stunning." But the question about Constellation Brands' $970-million pitch for California winemaker Robert Mondavi Corp. is whether it will be enough. "Mondavi is one of the strongest wine brands in the world," said Robert Nicholson, an investment banker who heads International Wine Associates in Healdsburg, Calif. "I don't think the rest of the industry is going to stand by without taking a look."
BUSINESS
August 21, 2004 | From Bloomberg News
Robert Mondavi Corp., the maker of Woodbridge and Opus One wines, said it planned to eliminate its Class B shares, slashing the Mondavi family's voting rights. If shareholders approve at the firm's annual meeting, Mondavi will reincorporate in Delaware and exchange each Class B share for 1.165 common shares, the Oakville, Calif., company said. The Mondavi family owns about 6 million Class B shares, with 10 votes each.
BUSINESS
January 23, 2004 | From Associated Press
Robert Mondavi Corp., the maker of Woodbridge and Opus One wines, said it slashed its earnings estimate for its fiscal second quarter by $3.9 million, or 23 cents a share, as a result of the planned sale of part of its Chilean winemaking venture. The Oakville, Calif.-based company said it now estimated earnings of 52 cents to 57 cents a share for the period ended Dec. 31, compared with 60 cents a year earlier.
BUSINESS
October 5, 2004 | Jerry Hirsch
Board member and former Chairman and Chief Executive R. Michael Mondavi has severed his last connection to Robert Mondavi Corp., the company founded by his father. In a letter to current Chairman Ted Hall, Michael Mondavi gave up his board seat. Mondavi said he strongly objected to the board's plan to sell the landmark Robert Mondavi Winery in Oakville, Calif., and other high-end wine assets to raise funds to invest in its everyday Woodbridge label and other inexpensive wine brands.
BUSINESS
December 16, 2003
* Motorola Inc. will name former Sun Microsystems Inc. President Edward Zander as its chief executive, a source close to the situation said. Other candidates are Motorola President Mike Zafirovski and Betsy Bernard, former president of AT&T Corp. * * IBM Corp. plans to move several thousand skilled software jobs overseas, company documents obtained by the Wall Street Journal said. * * Edwards Lifesciences Corp. agreed to buy Percutaneous Valve Technologies Inc.
BUSINESS
January 18, 2002 | Bloomberg News
Robert Mondavi Corp., the maker of Woodbridge and Opus One wines, said fiscal second-quarter profit fell 28% as consumers spent less on its wine amid a slump in the U.S. economy. Net income fell to $10.3 million, or 63 cents a share, from $14.1 million, or 87 cents, a year earlier. Sales in the quarter ended Dec. 31 dropped 6.7% to $131.1 million, the company said. Excluding charges related to write down its investment in Walt Disney Co.'s California Adventure theme park, Oakville, Calif.
BUSINESS
April 25, 2003 | Melinda Fulmer, Times Staff Writer
Wine maker Robert Mondavi Corp. on Thursday reported a fiscal third-quarter loss as a grape glut and intense competition from imports depressed sales and prices for some of its brands. The Oakville, Calif.-based maker of Woodbridge and Robert Mondavi Private Selection lost $1.6 million, or 10 cents a share, for the quarter ended March 31, contrasted with net income of $7.6 million, or 46 cents, a year earlier. Revenue fell 12% to $92.2 million from the same period last year.
BUSINESS
October 8, 2004 | From Associated Press
Robert Mondavi Corp. announced that founder Robert Mondavi's son Tim is stepping down as vice chairman and winegrower. Tim Mondavi will remain as consulting winegrower and as a member of the Napa, Calif.-based company's board. Company executives say his departure is unrelated to the resignation Monday of brother R. Michael Mondavi.
BUSINESS
October 5, 2004 | Jerry Hirsch
Board member and former Chairman and Chief Executive R. Michael Mondavi has severed his last connection to Robert Mondavi Corp., the company founded by his father. In a letter to current Chairman Ted Hall, Michael Mondavi gave up his board seat. Mondavi said he strongly objected to the board's plan to sell the landmark Robert Mondavi Winery in Oakville, Calif., and other high-end wine assets to raise funds to invest in its everyday Woodbridge label and other inexpensive wine brands.
BUSINESS
September 27, 2004 | Jerry Hirsch, Times Staff Writer
For nearly 40 Septembers, R. Michael Mondavi has helped the iconic Napa Valley winery built by his father harvest some of the world's best wine grapes. This year, he is reluctantly watching a harvest of another sort -- the famous Oakville winery itself. Over the objections of family members, Robert Mondavi Corp. announced plans this month to sell the winery that bears the founder's name and produces Cabernets Sauvignon that go for as much as $125 a bottle.
BUSINESS
September 18, 2004 | Roger Vincent, Times Staff Writer
As Michael Mondavi's golden parachute deploys over the Napa Valley, the former president of Robert Mondavi Corp. can gaze down at cash, baseball and a cellar full of his favorite wines. Mondavi resigned from the landmark California wine company as vice chairman this week. His severance agreement includes more than $1.
BUSINESS
September 15, 2004 | Jerry Hirsch, Times Staff Writer
Robert Mondavi Winery, Napa Valley's crown jewel, is on the block. Its parent, Robert Mondavi Corp., said Tuesday that it planned to sell not only the winery in Oakville, Calif., but also its high-end wine ventures so it could focus on the relatively inexpensive Woodbridge brand and other lower-end wines. The divestitures would mark a sea change for the business founded in 1966 by Robert Mondavi, who helped place Napa Valley in the atlas of the world's greatest wine regions.
BUSINESS
August 21, 2004 | From Bloomberg News
Robert Mondavi Corp., the maker of Woodbridge and Opus One wines, said it planned to eliminate its Class B shares, slashing the Mondavi family's voting rights. If shareholders approve at the firm's annual meeting, Mondavi will reincorporate in Delaware and exchange each Class B share for 1.165 common shares, the Oakville, Calif., company said. The Mondavi family owns about 6 million Class B shares, with 10 votes each.
BUSINESS
July 6, 2001 | From Reuters
Winemaker Robert Mondavi Corp. on Thursday warned that earnings for the current quarter would be 10% lower than Wall Street had forecast as the economic slowdown begins to hurt premium wine sales. The Oakville, Calif.-based company also lowered its forecast for earnings per share for the full 2002 fiscal year by a smaller margin and maintained its earnings guidance for the fiscal year ended June 30. Mondavi said the wine business often lags the rest of the U.S.
BUSINESS
January 30, 2004 | Jerry Hirsch, Times Staff Writer
Profit growth evaporated at Robert Mondavi Corp. in the last quarter, as the Oakville, Calif.-based winemaker struggled with widespread discounting and Southern California's protracted supermarket strike took a toll on sales. Mondavi, a bellwether for California's wine industry, was particularly hurt by the slowing sales of its workhorse Woodbridge brand, a staple of the company's supermarket business. The winemaker reported net income of $9.
BUSINESS
January 23, 2004 | From Associated Press
Robert Mondavi Corp., the maker of Woodbridge and Opus One wines, said it slashed its earnings estimate for its fiscal second quarter by $3.9 million, or 23 cents a share, as a result of the planned sale of part of its Chilean winemaking venture. The Oakville, Calif.-based company said it now estimated earnings of 52 cents to 57 cents a share for the period ended Dec. 31, compared with 60 cents a year earlier.
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