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Rockwell International

BUSINESS
November 11, 1998 | JONATHAN GAW, TIMES STAFF WRITER
The Newport Beach-based semiconductor unit of Rockwell International Corp. will be called when it is spun off at the end of this year, the company said Tuesday. The new company will have a red, stylized "C" logo, and its stock will be traded on the Nasdaq market under the symbol CNXT. The Conexant name, developed by Berkeley-based Master-McNeil Inc., is intended to merge the ideas of "connecting," "next" and the suffix "ant," implying "a proactive action-oriented approach to business."
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BUSINESS
November 5, 1998 | From Reuters
Avionics and automation giant Rockwell International Corp. Wednesday reported a fourth-quarter loss due to the restructuring of its semiconductor business. The Costa Mesa-based company said it lost $126 million, or 65 cents a share, compared with a profit of $109 million, or 53 cents a share, in the fourth quarter of 1997. The latest results include the discontinued semiconductor operations, which Rockwell plans to spin off to shareholders by the end of the year.
BUSINESS
November 5, 1998 | From Bloomberg News
Cisco Systems Inc. said Wednesday that fiscal first-quarter earnings rose 34% as the top computer networking company kept its lead in the corporate market and sold more Internet equipment to phone companies. Profit before special items rose to $559 million from $415.7 million in the year-earlier period. Earnings per share were up 31% at 34 cents from 26 cents. Cisco was expected to earn 33 cents in the quarter ended Oct. 24, the average estimate of analysts surveyed by First Call.
BUSINESS
October 22, 1998 | P.J. Huffstutter
Rockwell International Corp., preparing to spin off its semiconductor systems business as an independent company, on Wednesday named the first five people for the new firm's board of directors. Dwight W. Decker, current president of Rockwell Semiconductor Systems, will become chairman of the board and chief executive of the as-yet-unnamed company, which will be based in Newport Beach. Other board members will be Donald R.
BUSINESS
October 17, 1998 | (P.J. Huffstutter)
Rockwell International Corp. said Bala Iyer will become chief financial officer of its soon-to-spin-off semiconductor unit. Officials have not chosen a new name for the division. Iyer, 42 who joins Rockwell Semiconductor Systems' staff Monday as vice president of finance, is currently CFO of VLSI Technology Inc., a San Jose-based company that makes integrated circuits for consumer electronic products.
CALIFORNIA | LOCAL
October 17, 1998
The federal government has given Downey the deed to the historic 68-acre site where aircraft, missile and spacecraft technology was developed for more than 60 years. About 3,000 people worked at Rockwell International's aerospace operations in Downey until Boeing took over the company in 1997. Boeing is closing the 160-acre facility as part of a reorganization plan.
BUSINESS
October 3, 1998 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
Rockwell International Corp. Chief Executive Don H. Davis said Friday he expects the company's struggling semiconductor division--which will be spun off into a separate firm in the coming weeks--to return to profitability by the end of next year. The semiconductor market doesn't fit with Rockwell's plans because "it's much more of a volatile industry than we're in," said Davis, 58, speaking in detail for the first time since the company announced its massive restructuring plan in June.
BUSINESS
September 30, 1998 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
After enjoying five years of double-digit growth, Rockwell Semiconductor Systems Inc.'s sales have dropped 10% in the last nine months and the once-burgeoning company has fallen into the red, according to documents filed with the Securities and Exchange Commission. The struggling unit of Rockwell International Corp., which is expected to be spun off by Dec. 31, has plummeted to a net loss of $28 million for the nine months, compared with a profit of $110 million for the same period in 1997.
BUSINESS
September 30, 1998 | P.J. Huffstutter
After five years of double-digit growth, Rockwell Semiconductor Systems Inc.'s sales have dropped 10% in the last nine months and the once burgeoning company has fallen into the red, according to documents filed with the Securities and Exchange Commission. The struggling unit of Rockwell International Corp., which is expected to be spun off by Dec. 31, had a net loss of $38 million in the first nine months of the year, contrasted with a profit of $110 million in the year-earlier period.
BUSINESS
September 15, 1998 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
Rockwell International Corp. said Monday that it will cut nearly 900 jobs, close its Colorado Springs, Colo., manufacturing facility, and take a fourth-quarter charge of $265 million as it prepares to shed its money-losing semiconductor division. Analysts say the cuts, though painful, are necessary if Costa Mesa-based Rockwell is to be able to spin off its troubled unit.
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