Raychem plans to take a charge for its 3rd period

Article Abstract:

Raychem Corp, a manufacturer of aerospace, automotive, electronics and telecommunications products, will take a charge of up to $90 million for the 3rd qtr, resulting in a loss for FY 1990. The charge is for severance payments, management consolidations and expenses due to divestitures. Before the charge, 3rd qtr results were at about the break-even point. The company attributes the lack of profit to a five percent decline in the defense business. Raychem has had several quarters of declining profits, including a 92 percent fall from 3rd qtr 1988 to 3rd qtr 1989, when it took a one-time charge of $10.7 million and posted net income of $2.4 million. The company blames many of its difficulties on the performance of its Raynet unit, which designs fiber-optic systems. The unit is spending substantial funds on development, and could cost Raychem about $60 million in 1990.

Conglomerate corporations, Consumer electronics industry, Consumer electronics, Telecommunications equipment industry, Aerospace industry, Aircraft equipment and supplies industry, Aircraft parts industry, Telecommunications, Manufacturers, Fourth Quarter, Raychem Corp., RYC

---

Tandem says net in quarter was below expectation

Article Abstract:

Tandem Computers Inc announces earnings and revenue for 2nd qtr 1990 are below its expectations. Tandem says net income is between $16.9 million and $30.7 million, compared with $16.9 million one year ago, and $30.7 million for the first quarter. Revenue in 2nd qtr 1990 is between $437 million and $457 million, compared with analysts expectations of $465 million. Tandem has a history of being overly optimistic in its projections. The disappointing news sent stocks down $4.625, to close at $22.625 per share. Tandem blames the poorer-than-expected performance on some deferred orders and high interest rates. Analysts say Tandem fields competitive products.

Electronic computers, Computer industry, Tandem Computers Inc., Financial Analysis Software, Second Quarter, TDM

---

Businessland to report loss for 3rd period

Article Abstract:

Businessland Inc announces it expects to report a net loss of about $2 million, on revenue of $320 million for 3rd qtr 1990. The news surprised analysts because only a month ago Businessland indicated the quarter would be profitable. The bad news sent Businessland stock down $1.50, to close at $8.875 per share. For the same period one year ago, Businessland had net-income of $8.5 million on revenue of $293.3 million. Businessland blames slow retail sales due to customers waiting for new products from IBM and Apple, as well as generally lower profit margins throughout the industry.

Computer and software stores, Chain stores, Computer stores, Distribution channels, Retail/Reseller Channel, Businessland Inc., BLI

Similar abstracts:

• Abstracts: IBM to sell assets left over from its past. Businessland directors take a loss and transform it into a big gain
• Abstracts: General Dynamics takes biggest charge in its history, posts $530.1 million loss. Compulink tries to convert skeptics to paperless office; to get technology accepted, firm lowers actual and perceived risks
• Abstracts: Sharp advances seen by General Computer Corp.; firm links gains to growth of claims processing in health care business

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.