August 12, 2000 |
Protection One Inc. said its second-quarter loss widened to $23.2 million, or 18 cents a share, from $7.67 million, or 6 cents, a year earlier, as revenue fell 6.4% to $101.2 million. The Culver City-based security alarm company said the year-earlier results include Protection One's European operations, which were acquired by Western Resources Inc. in February for $244 million. Western, Kansas' largest power company, has an 85% stake in Protection One. Revenue in the latest quarter was $149.
October 8, 1999 |
Utility company Western Resources Inc. said it may spin off all or part of its 85% stake in Culver City-based Protection One Inc. because losses at the security-alarm company are hurting Western's results. Topeka, Kan.-based Western said it is considering several options for troubled Protection One, including seeking new sources of debt or equity financing. Western Chief Executive David Wittig said he believes that Protection One's managers eventually will produce profit.
February 8, 1997 |
Western Resources Inc. plans to buy Kansas City Power & Light Co. in a $2-billion stock swap, the companies announced, in the first hostile takeover of a U.S. utility. Under the tax-free deal, Kansas City, Mo.-based Kansas City Power shareholders would receive $32 worth of Topeka, Kan.-based Western Resources' common stock for each share they hold. Kansas City Power's surrender ended a 10-month battle in which UtiliCorp United Inc., also based in Kansas City, saw its friendly $1.
March 20, 1999 |
James M. Mackenzie Jr., president and chief executive of Culver City-based Protection One Inc., resigned from the company. Protection One, a leading residential security alarm company, gave no reason for the resignation. Two of the founding partners of the company will take over Mackenzie's responsibilities, the company said. John E. Mack III has been named chief executive and Thomas K. Rankin will become president and chief operating officer.
July 17, 1990
Fortune Petroleum Corp. in Agoura Hills announced that it has canceled plans to acquire most of the assets of Western Energy Resources Inc. The plans hinged on Fortune raising $500,000 through an offering of stock, and warrants to buy additional stock. However, the offering, which expired June 15, raised only $284,797. Fortune is an oil and gas exploration company.
August 9, 1986
Blaming the ongoing slump in the oil industry, Western Energy Resources Inc. reported a net loss of $81,043 for the second quarter, compared with a year-earlier loss of $79,150. The Mission Viejo-based independent oil and gas company's revenue was $48,492, 56% lower than the $110,094 posted a year ago. For the first half of the year, Western posted a net loss of $122,795, compared with a net loss of $90,685 for the comparable 1985 period. Revenue was $140,001, down 35% from $215,842.