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Rockwell International

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.
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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.
BUSINESS
August 19, 1998 | Bloomberg News
Westinghouse Air Brake Co. said Tuesday it has agreed to buy Rockwell International Corp.'s railroad electronics division for $80 million, improving its train brake and communications product lines. Westinghouse Air Brake, one of North America's largest makers of locomotive equipment, bought the unit from Rockwell Collins Inc. in Cedar Rapids, Iowa. Rockwell Collins is a subsidiary of Costa Mesa-based Rockwell.
BUSINESS
August 10, 1998 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
It has been nearly six weeks since Rockwell International Corp. first announced its plans to spin off its struggling semiconductor unit. And one question has local industry watchers buzzing: Will Rockwell's corporate offices stay in California? After all, it was less than a year ago when staffers left their aerospace past in Seal Beach and stepped into the company's gleaming new offices in Costa Mesa--five floors of smoked glass and stainless steel at the Plaza Tower.
BUSINESS
July 28, 1998 | JAMES PELTZ and MICHAEL HILTZIK
The Times today continues a new feature, Stock Exchange, in which staff writers James Peltz and Michael Hiltzik debate the merits of individual stocks and other investments. Apple Computer (AAPL) Apple close Monday: $34.44 Mike: You know what's interesting about Apple? This is a golden opportunity to buy stock in a religion. Jim: One of the few opportunities, I believe. Mike: And not just any religion. This one comes with its own pope and its own Grail.
BUSINESS
July 21, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Hit hard by the cost of its ongoing restructuring, electronics giant Rockwell International Corp. said Monday that it lost $482 million in its fiscal 1998 third quarter after taking a $587-million charge stemming from its corporate overhaul. Separately, Costa Mesa-based Rockwell said a federal appeals court rejected its protest of a $58-million jury award lodged against it last year in a theft-of-technologies case.
BUSINESS
July 21, 1998 | JOHN O'DELL, TIMES STAFF WRITER
Hit hard by the costs of its ongoing restructuring, electronics giant Rockwell International Corp. said Monday that it lost $482 million in its fiscal 1998 third quarter after taking a $587-million charge stemming from its corporate overhaul. Separately, Costa Mesa-based Rockwell said a federal appeals court rejected its protest of a $58-million verdict lodged against it last year in a theft-of-technologies case.
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