Xircom Inc

Xircom Inc., a Thousand Oaks maker of portable computer communications devices, said increased competition contributed to a 37% drop in its net income to $2.47 million in the second quarter that ended March 31, down from a $3.92-million profit a year earlier. Sales in the latest quarter increased 32% to $40 million, up from $30.2 million over the same period last year. For the six-month period, Xircom's net income also fell 5% to $7 million, down from $7.4 million a year earlier.

In its first major Southern California acquisition, computer chip giant Intel Corp. said Monday that it will pay $748 million for Thousand Oaks-based Xircom Inc., a maker of notebook computer communications devices. The deal could set off a wave of bargain hunting for beaten-down tech companies, whose values remain deeply depressed from their highs of last winter, analysts said. Intel will pay a $25 a share in cash for Xircom, a move that will complement the Santa Clara, Calif.

A major pension fund has cut its stake in Calabasas-based Xircom Inc. by about 154,200 shares. Between Nov. 2 and 9, the State of Wisconsin Investment Board, which manages funds for Wisconsin state employees, sold off about 1% of its holdings in Xircom and now owns 7.6% of the firm, or 1.1 million common shares. The divested shares were sold for $9 to $9.50 each.

Three tenants signed leases valued at more than $39 million for 410,000 square feet of office and industrial space at the Conejo Spectrum, a 100-acre business park under development by Los Angeles- based Investment Development Services at Rancho Conejo Boulevard and Lawrence Drive in Newbury Park.

Xircom Inc., a Thousand Oaks-based maker of network adapters for portable computers, said it has completed its acquisition of privately held Primary Rate Inc., a producer of computer network products and software. Xircom said it paid about $48 million in cash and stock for Primary Rate, which will continue to operate from its Salem, N.H., headquarters. Primary Rate's chief executive officer, Mark Galvin, will continue to oversee operations of the company as a vice president at Xircom.

Xircom Inc., a Calabasas maker of products that link personal computers with computer networks, said it established a wholly owned Pacific Rim subsidiary based in Hong Kong. Xircom Asia Limited will provide sales, marketing, training and other services to a network of more than 20 Xircom distributors and resellers throughout the Pacific Rim region.

Xircom Inc., a Calabasas maker of network connections for personal computers, posted record sales and profits for its fiscal fourth quarter and year, reflecting sales growth, new products and additional spending on research and development. For the three months that ended Sept. 30, the company's net income surged 79%, to $3.2 million, on sales of $24.7 million. In the year-earlier period, Xircom earned $1.8 million on sales of $17.1 million.

Xircom Inc. in Thousand Oaks has reported record net sales for the second quarter ended March 31 of $64.1 million, a 12% increase over $57.1 million for the same period last year, and a 22% increase compared to $52.5 million for the prior quarter. Income from continuing operations was $3.3 million or 14 cents per share, compared to $4.9 million or 22 cents per share for the same period last year, and $2.4 million or 11 cents per share for the prior quarter.

Xircom Inc., a Calabasas-based manufacturer of components for personal computers, said profit for its fiscal fourth quarter increased 74%, to $1.76 million from $1.02 million a year earlier, on a 92% jump in revenue. For the three months that ended Sept. 30, Xircom's sales increased to $17.1 million from $8.9 million.

Xircom Inc. in Thousand Oaks has filed a lawsuit in Ventura County Superior Court to identify and recover damages from an anonymous individual claiming to be an employee who has posted several messages on Internet stock message boards. Xircom claims that the information posted in the chat room was unlawful because the statements contained false information about Xircom and its products.

Xircom Inc., which makes circuitry that connects laptop computers to networks and cell phones, agreed to buy Omnipoint Technologies Inc. from VoiceStream Wireless Corp. for $52.2 million. Thousand Oaks-based Xircom will give VoiceStream 1.2 million shares in exchange for full ownership of Omnipoint. The purchase, valued on Xircom's closing price Monday, is expected to close within three weeks. Omnipoint makes circuit cards for communications uses that are installed in computers.

Xircom Inc., which makes communications cards to connect laptop computers to networks and cell phones, said fiscal second-quarter earnings will fail to meet forecasts. The news sent its shares down 10%. The Thousand Oaks-based company, citing year 2000 fears of a slowdown in sales, said it expects to report profit of 30 cents to 35 cents a share, before goodwill and other acquisition-related costs, in the quarter ending March 31.

Xircom Inc. will become the first tenant at the long-idled former Northrop Grumman Corp. manufacturing complex in Thousand Oaks. The mobile networking company will relocate its corporate headquarters from a trio of cramped nearby facilities to a pair of custom-built 100,000-square-foot buildings at the 100-acre property, now known as the Conejo Spectrum.

Xircom Inc. in Thousand Oaks has filed a lawsuit in Ventura County Superior Court to identify and recover damages from an anonymous individual claiming to be an employee who has posted several messages on Internet stock message boards. Xircom claims that the information posted in the chat room was unlawful because the statements contained false information about Xircom and its products.

A Ventura County judge Monday temporarily blocked Xircom Inc.'s attempt to unmask an anonymous online critic. But the ruling was based on a legal technicality, and the judge indicated that he was not swayed by arguments that Xircom's efforts violate free speech. The ruling comes amid a surge in the number of subpoenas issued by public companies seeking to uncover the identities of their online foes. The tactic has raised concern among Internet free-speech advocates that companies are abusing the legal process solely to intimidate critics.

Xircom Inc. in Thousand Oaks has hired Patrick Piccininno as vice president and chief information officer. In the newly created position, Piccininno will be responsible for expanding Xircom's E-business initiatives, improving information management systems and integrating new technologies worldwide. Before joining Xircom, Piccininno served as senior practice director in the management and applications consulting group of Oracle Corp.

Intel Corp. has exercised its warrant to buy additional shares of Xircom Inc. common stock under a February 1997 agreement that was part of Intel's initial investment in the Thousand Oaks company. Under terms of the agreement, Intel elected to receive 514,314 shares at no additional cost in lieu of purchasing 1.5 million shares at an exercise price of $27.01. Xircom then repurchased all 514,314 shares of stock for $19.8 million, or $38.45 per share. Intel owns about 2.

Xircom Inc. in Thousand Oaks reported that net sales for the first quarter ended Dec. 31 were a record $96 million, an 83% jump from the $52.5 million reported for the same period a year earlier, and a 9% increase compared with $88.1 million for the previous quarter. Net income was a record $9.8 million, or 39 cents per share, compared with $2.4 million, or 11 cents per share, for the same period in 1997. In the previous quarter, net income was $7.9 million, or 33 cents per share.