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BUSINESS
January 25, 2001 | Bloomberg News
JDS Uniphase Corp., the biggest maker of fiber-optic components, said a shareholder vote on its proposed $22.5-billion acquisition of smaller rival SDL Inc. has been postponed because the Justice Department is reviewing a proposed remedy to antitrust concerns. Meanwhile, SDL said operating earnings more than tripled to $48.2 million, or 53 cents per share, from $12.8 million, or 17 cents, a year ago, exceeding forecasts of 49 cents, as revenue surged to $175.6 million from $58.7 million.
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BUSINESS
February 7, 2001 | SUSAN TAYLOR, REUTERS
JDS Uniphase Corp. got the long-awaited green light from the U.S. Justice Department Tuesday for its $18.3-billion acquisition of SDL Inc. after agreeing to sell a Swiss laser plant to Nortel Networks Corp. for up to $3 billion. The stock purchase of SDL--which was valued at $41 billion when announced last July amid a bullish market--further strengthens JDS' lead in the red-hot optical components sector. JDS is the world's No.
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BUSINESS
February 28, 1997
A patent infringement suit filed by Rockwell International Corp. against SDL Inc. of San Jose was dismissed earlier this month in a federal court in Washington, D.C., according to SDL executives. Seal Beach-based Rockwell had filed a suit in the early 1990s alleging that SDL had not obtained permission to use a gallium arsenide process developed by Rockwell and used in semiconductor manufacturing.
BUSINESS
January 25, 2001 | Bloomberg News
JDS Uniphase Corp., the biggest maker of fiber-optic components, said a shareholder vote on its proposed $22.5-billion acquisition of smaller rival SDL Inc. has been postponed because the Justice Department is reviewing a proposed remedy to antitrust concerns. Meanwhile, SDL said operating earnings more than tripled to $48.2 million, or 53 cents per share, from $12.8 million, or 17 cents, a year ago, exceeding forecasts of 49 cents, as revenue surged to $175.6 million from $58.7 million.
BUSINESS
February 7, 2001 | SUSAN TAYLOR, REUTERS
JDS Uniphase Corp. got the long-awaited green light from the U.S. Justice Department Tuesday for its $18.3-billion acquisition of SDL Inc. after agreeing to sell a Swiss laser plant to Nortel Networks Corp. for up to $3 billion. The stock purchase of SDL--which was valued at $41 billion when announced last July amid a bullish market--further strengthens JDS' lead in the red-hot optical components sector. JDS is the world's No.
BUSINESS
July 11, 2000 | CHARLES PILLER, TIMES STAFF WRITER
In the largest high-tech deal ever, optical-network leader JDS Uniphase said Monday that it agreed to acquire optical-component supplier SDL Inc. for $41 billion in stock. If completed, the buyout would create a technology titan on the strength of the fast-growing market for high-speed networks that send data on light impulses over hair-thin glass fibers.
BUSINESS
January 26, 2001 | From Bloomberg News
Newport Corp., which cut its sales forecasts for the year, continued to take its lumps Thursday on Wall Street. Shares of the Irvine company tumbled $24.50, or 23%, to $83.94 in Nasdaq trading, although most of the slump came Wednesday after regular trading hours. The company, which makes equipment for producing semiconductors and fiber-optic parts, told analysts that it expects sales to climb 4% this year, far below the 50% increase that it forecast three months ago.
BUSINESS
October 9, 2000 | Bloomberg News
Corning Inc., which makes glass used in fiber-optic networks, said it will hold talks with a Litton Industries Inc. unit to settle patent-infringement claims by Litton. It was not immediately clear the talks would take place. Litton Systems Inc. sued Corning and 14 other companies last week for allegedly infringing a patent on a device that helped usher in the commercial era of fiber-optic transmission.
BUSINESS
February 28, 2001 | SUSAN TAYLOR, REUTERS
Amid slowing demand and growing competition, JDS Uniphase Corp., the world's No. 1 supplier of fiber-optic components, said Tuesday that it will cut 3,000 jobs, or 10% of its work force, mainly in the manufacturing of passive products that boost optical network capacity. JDS said it still plans to hire employees for its high-growth businesses but does not yet have any staffing estimates. The news sent the company's shares to a new 52-week low of $27.
BUSINESS
July 28, 2000 | From Bloomberg News
Corning Inc., the biggest maker of glass for optical networks, said it ended talks to buy a unit of Nortel Networks Corp. over concern that the proposed $100-billion transaction would hurt sales. The companies discussed a plan to have Nortel sell its business that makes components used in fiber-optic equipment in exchange for a majority stake in Corning, people familiar with the matter said earlier this week. Corning has a smaller unit in the same industry.
BUSINESS
July 11, 2000 | CHARLES PILLER, TIMES STAFF WRITER
In the largest high-tech deal ever, optical-network leader JDS Uniphase said Monday that it agreed to acquire optical-component supplier SDL Inc. for $41 billion in stock. If completed, the buyout would create a technology titan on the strength of the fast-growing market for high-speed networks that send data on light impulses over hair-thin glass fibers.
BUSINESS
February 28, 1997
A patent infringement suit filed by Rockwell International Corp. against SDL Inc. of San Jose was dismissed earlier this month in a federal court in Washington, D.C., according to SDL executives. Seal Beach-based Rockwell had filed a suit in the early 1990s alleging that SDL had not obtained permission to use a gallium arsenide process developed by Rockwell and used in semiconductor manufacturing.
BUSINESS
May 7, 1996
Companies ranked by chance in stock price since 1995 initial offering. *--* Rank Company Offering Price Recent Price 1 DSP Communications Inc 10 30.5 2 Premisys Communications Inc 16 41.75 3 HNC Software Inc 14 36.5 4 Remedy Corp 23 67 5 Netscape Communications Corp 28 55.25 6 Arbor Software Corp 17 64 7 P-Com Inc 12 20.88 8 PDT Inc 16 54.5 9 Clarify Inc 13 40 10 Red Brick Sys Inc 18 55 11 Lumisys Inc 8 23.5 12 Verity Inc 12 31.5 13 Xylan Corp 26 64.
BUSINESS
February 16, 2001 | From Reuters
Nortel Networks Corp., the world's No. 1 supplier of fiber-optic telecom equipment, slashed its 2001 revenue forecast by half Thursday, saying that it will post a first-quarter loss and increase job cutbacks to 10,000. In contrast, optical equipment maker Ciena Corp. raised its revenue forecast, citing growing demand for switches and transmission equipment for optical networks. Ciena gave its optimistic outlook as it said earnings for its fiscal first quarter surged more than fivefold to $54.
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