April 11, 1995 |
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.
May 6, 1997 |
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.
January 23, 1997 |
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.
July 23, 1996 |
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.
September 22, 1995 |
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.
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.