Symbol Technologies Inc

Symbol Technologies Inc. agreed Thursday to pay $37 million to settle regulators' allegations that the world's largest seller of bar-code scanners committed accounting fraud by artificially boosting financial results. The Securities and Exchange Commission also sued 11 executives of the Holtsville, N.Y.-based company.

Motorola Inc. said Tuesday that it would acquire Symbol Technologies Inc. for about $3.9 billion in a deal that expands the world's second-largest cellphone maker's presence in the market for business-oriented mobile devices. The deal for Symbol, which makes portable bar-code scanners and customized hand-held computers, is expected to close this year or early in 2007, pending regulatory clearance and approval by Symbol shareholders, company executives said.

Motorola Inc. said Tuesday that it would acquire Symbol Technologies Inc. for about $3.9 billion in a deal that expands the world's second-largest cellphone maker's presence in the market for business-oriented mobile devices. The deal for Symbol, which makes portable bar-code scanners and customized hand-held computers, is expected to close this year or early in 2007, pending regulatory clearance and approval by Symbol shareholders, company executives said.

Former Symbol Technologies Inc. Chief Executive Tomo Razmilovic, indicted last week on charges of conspiring to commit accounting fraud, is a fugitive, the Justice Department said Wednesday. Razmilovic, 62, will not appear at an arraignment today to enter a plea to fraud charges and to have bail set, his lawyer said, according to prosecutors.

Symbol Technologies Inc., which makes bar-code scanners used at store check-out counters, is considering closing its factory and offices in Costa Mesa, where it employs 500. Symbol's biggest customers--retailers--have been pounded by the recession, and Symbol's sales have slumped. In its latest quarter, ending in September, Symbol lost $3.4 million on sales of $78 million, down from a profit of $7 million on sales of $87 million in the same quarter last year.

Former Symbol Technologies Inc. Chief Executive Tomo Razmilovic, indicted last week on charges of conspiring to commit accounting fraud, is a fugitive, the Justice Department said Wednesday. Razmilovic, 62, will not appear at an arraignment today to enter a plea to fraud charges and to have bail set, his lawyer said, according to prosecutors.

Former Symbol Technologies Inc. Chief Accounting Officer Robert Korkuc pleaded guilty to criminal fraud and conspiracy for overstating earnings to meet analysts' forecasts, federal prosecutors said. The U.S. attorney and the Securities and Exchange Commission said they are continuing to investigate accounting practices at Symbol, the world's largest maker of bar-code scanners. Holtsville, N.Y.

Symbol Technologies Inc. of Costa Mesa has donated more than $100,000 worth of computer equipment to the High Technology Department at Orange Coast College. The company, which creates automated cash register systems that read Universal Product Codes, presented a Micro-Vax Computer with 20 terminals, several printers and other equipment. "This new system enhances our computer power to a tremendous degree," said Thomas C.

Symbol Technologies Inc., a leader in bar-code scanning technology, said it has a "serious interest" in acquiring Telxon Corp. for about $612 million, or $38 a share, in cash and stock. Telxon said it had received Symbol's letter of interest and would respond in due course. Telxon, which is based in Akron, Ohio, makes hand-held computers, which are increasingly being used as bar-code scanning expands from grocery stores to other industries.

Symbol Technologies Inc. agreed Thursday to pay $37 million to settle regulators' allegations that the world's largest seller of bar-code scanners committed accounting fraud by artificially boosting financial results. The Securities and Exchange Commission also sued 11 executives of the Holtsville, N.Y.-based company.

Former Symbol Technologies Inc. Chief Accounting Officer Robert Korkuc pleaded guilty to criminal fraud and conspiracy for overstating earnings to meet analysts' forecasts, federal prosecutors said. The U.S. attorney and the Securities and Exchange Commission said they are continuing to investigate accounting practices at Symbol, the world's largest maker of bar-code scanners. Holtsville, N.Y.

Symbol Technologies Inc., a leader in bar-code scanning technology, said it has a "serious interest" in acquiring Telxon Corp. for about $612 million, or $38 a share, in cash and stock. Telxon said it had received Symbol's letter of interest and would respond in due course. Telxon, which is based in Akron, Ohio, makes hand-held computers, which are increasingly being used as bar-code scanning expands from grocery stores to other industries.

Symbol Technologies Inc., which makes bar-code scanners, said Wednesday that it will close its Costa Mesa factory and offices and lay off most of its 500 employees here over the next year. Symbol said that shutting down the Costa Mesa operation and combining it with the company's headquarters on Long Island will cost the company $34 million this quarter.

Symbol Technologies Inc., which makes bar-code scanners used at store check-out counters, is considering closing its factory and offices in Costa Mesa, where it employs 500. Symbol's biggest customers--retailers--have been pounded by the recession, and Symbol's sales have slumped. In its latest quarter, ending in September, Symbol lost $3.4 million on sales of $78 million, down from a profit of $7 million on sales of $87 million in the same quarter last year.

A hostile takeover battle involving the two biggest players in the hand-held data entry market ended early Monday as Telxon Corp. dropped its $123-million bid for MSI Data Corp. Each company also agreed to drop costly expensive legal actions they had filed against each other in a settlement that will cost Telxon $5 million in cash. The complex agreement clears the way for Symbol Technologies Inc. of Bohemia, N.Y.

Symbol Technologies Inc. of Costa Mesa has donated more than $100,000 worth of computer equipment to the High Technology Department at Orange Coast College. The company, which creates automated cash register systems that read Universal Product Codes, presented a Micro-Vax Computer with 20 terminals, several printers and other equipment. "This new system enhances our computer power to a tremendous degree," said Thomas C.