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BUSINESS
March 7, 1994 | From Times Staff and Wire Reports
Litton Split-Up Set for March 17: That's the date the Los Angeles-based defense electronics concern is scheduled to divest its commercial operations into a newly formed company named Western Atlas Inc. The change will occur with Litton distributing Western Atlas' approximately 46 million common shares to Litton stockholders of record March 14. "When-issued" trading of Western Atlas' stock is expected to start Tuesday on the NYSE.
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BUSINESS
July 11, 1997 | (Bloomberg News)
Western Atlas Inc. said it will post a $203-million charge in the second quarter for research and development costs at Norand Corp. and United Barcode Industries, the mobile computing and automated data-collection companies it bought earlier this year. Western Atlas also said it will record an additional $5-millioncharge in the second quarter for estimated costs of the planned spinoff of its industrial automation unit.
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BUSINESS
May 11, 1995 | Times Staff and Wire Reports
Western Atlas Earns $78 Million in First Year: Beverly Hills-based Western Atlas Inc., a supplier of oil field information services and industrial automation systems that split off from Litton Industries Inc. in March, 1994, had net earnings of $77.7 million last year on revenue of $2.2 billion. Earnings per share were $1.60. In April, the company agreed in principle to sell almost all assets of its operation that manufactures seismic exploration products, in a $120-million cash transaction.
BUSINESS
May 6, 1997 | From Bloomberg News
Beverly Hills-based Western Atlas Inc. said Monday that it will spin off its industrial automation unit, which accounts for about half the company's $3.1 billion in annual revenue. The new company will be composed of Western Atlas' automated data-collection, mobile-computing and manufacturing systems units. It will be based in Beverly Hills and have estimated annual revenue of $1.5 billion.
BUSINESS
May 6, 1997 | From Bloomberg News
Beverly Hills-based Western Atlas Inc. said Monday that it will spin off its industrial automation unit, which accounts for about half the company's $3.1 billion in annual revenue. The new company will be composed of Western Atlas' automated data-collection, mobile-computing and manufacturing systems units. It will be based in Beverly Hills and have estimated annual revenue of $1.5 billion.
BUSINESS
January 23, 1997 | PETER NOAH, TIMES STAFF WRITER
To increase its stake in the fast-growing market for mobile computers used by FedEx drivers, Nabisco and other corporate giants, Western Atlas Inc. said Wednesday that it will pay $261.3 million in cash for Norand Corp. Western Atlas' Seattle-based Intermec division, which accounted for $370 million of the Beverly Hills company's $2.5 billion in sales last year, will realize most of the transaction's synergies, the company said.
BUSINESS
April 11, 1995 | Times Staff and Wire Reports
Western Geophysical Sells Equipment Unit for $120 Million: The division of Beverly Hills-based Western Atlas Inc. has agreed to sell the unit that manufactures equipment used in hunting for oil through seismic, or sound, waves that map subterranean formations. Input/Output Inc. of Stafford, Tex., will pay cash for the business, which had 1994 revenue of $110 million.
BUSINESS
July 11, 1997 | (Bloomberg News)
Western Atlas Inc. said it will post a $203-million charge in the second quarter for research and development costs at Norand Corp. and United Barcode Industries, the mobile computing and automated data-collection companies it bought earlier this year. Western Atlas also said it will record an additional $5-millioncharge in the second quarter for estimated costs of the planned spinoff of its industrial automation unit.
BUSINESS
July 23, 1996 | From Times Wire Services
Microsoft Corp., the world's leading computer software maker, on Monday reported a 50% increase in profit for its fiscal fourth quarter, exceeding analysts' expectations. The Redmond, Wash.-based company posted a profit of $559 million, or 87 cents a share, for the three months ended in June, up from $368 million, or 58 cents, a year ago. Analysts on average had predicted quarterly earnings of 85 cents a share.
BUSINESS
September 22, 1995 | Times Staff and Wire Reports
Litton Names New Chief Operating Officer: Michael R. Brown was also named executive vice president and a director of Litton Industries Inc., a defense electronics and Navy shipbuilding concern based in Woodland Hills. Brown, 54, had been group executive for Litton's electronic warfare systems unit. Litton also said its president and chief executive, John M. Leonis, will be elected chairman. Leonis, 61, will succeed Alton J.
BUSINESS
January 23, 1997 | PETER NOAH, TIMES STAFF WRITER
To increase its stake in the fast-growing market for mobile computers used by FedEx drivers, Nabisco and other corporate giants, Western Atlas Inc. said Wednesday that it will pay $261.3 million in cash for Norand Corp. Western Atlas' Seattle-based Intermec division, which accounted for $370 million of the Beverly Hills company's $2.5 billion in sales last year, will realize most of the transaction's synergies, the company said.
BUSINESS
July 23, 1996 | From Times Wire Services
Microsoft Corp., the world's leading computer software maker, on Monday reported a 50% increase in profit for its fiscal fourth quarter, exceeding analysts' expectations. The Redmond, Wash.-based company posted a profit of $559 million, or 87 cents a share, for the three months ended in June, up from $368 million, or 58 cents, a year ago. Analysts on average had predicted quarterly earnings of 85 cents a share.
BUSINESS
May 11, 1995 | Times Staff and Wire Reports
Western Atlas Earns $78 Million in First Year: Beverly Hills-based Western Atlas Inc., a supplier of oil field information services and industrial automation systems that split off from Litton Industries Inc. in March, 1994, had net earnings of $77.7 million last year on revenue of $2.2 billion. Earnings per share were $1.60. In April, the company agreed in principle to sell almost all assets of its operation that manufactures seismic exploration products, in a $120-million cash transaction.
BUSINESS
April 11, 1995 | Times Staff and Wire Reports
Western Geophysical Sells Equipment Unit for $120 Million: The division of Beverly Hills-based Western Atlas Inc. has agreed to sell the unit that manufactures equipment used in hunting for oil through seismic, or sound, waves that map subterranean formations. Input/Output Inc. of Stafford, Tex., will pay cash for the business, which had 1994 revenue of $110 million.
BUSINESS
March 7, 1994 | From Times Staff and Wire Reports
Litton Split-Up Set for March 17: That's the date the Los Angeles-based defense electronics concern is scheduled to divest its commercial operations into a newly formed company named Western Atlas Inc. The change will occur with Litton distributing Western Atlas' approximately 46 million common shares to Litton stockholders of record March 14. "When-issued" trading of Western Atlas' stock is expected to start Tuesday on the NYSE.
BUSINESS
October 13, 1998
A series of corporate mergers and acquisitions has motivated industrial automation specialist Unova Inc. to put its landmark Beverly Hills headquarters on the market. With Unova's spin-off from Western Atlas Inc. about a year ago, the former parent's headquarters shifted to Houston-- near its key oil field services operations--while Unova inherited the prime property on about 2.6 acres along the south side of "little" Santa Monica Boulevard between Rexford Drive and Crescent Drive.
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