The inevitable job cuts have started at Nokia. The Finnish mobile phone company plans to reduce payroll by 4,000 by the end of 2012 and reassess the roles of its various research and development plans, with the possibility many of these may be shuttered as part of its cost reduction efforts. As part of the…
IRVINE, Calif. — Broadcom Corporation (Nasdaq: BRCM) today reported unaudited financial results for its first quarter ended March 31, 2011. Net revenue for the first quarter of 2011 was $1.82 billion. This represents a decrease in net revenue of 6.6% compared with the $1.95 billion reported for the fourth quarter of 2010 and an increase…
Finland may have to find another wildly successful company to serve as its national image booster. {complink 3847|Nokia Corp.}, once the most celebrated corporate champion for tiny Finland (population 5.3 million), is fading fast in the mobile device market, facing the prospect that turning its fortune around may take years… or not happen at all.…
DUBLIN — Cooper Industries plc (NYSE: CBE) today reported income from continuing operations of $156 million for the first quarter of fiscal year 2011, an increase of $37 million, or 31%, from $119 million in the same period last year. Earnings per share from continuing operations improved $0.23 per share, or 33%, to $0.93 compared…
SUNNYVALE, Calif. — Maxim Integrated Products, Inc. (Nasdaq:MXIM) reported net revenue of $606.8 million for its fiscal 2011 third quarter ended March 26, 2011, a 1% decrease from the $612.9 million revenue recorded in the prior quarter. Tunc Doluca, President and Chief Executive Officer, commented, “Through all the recent events affecting our industry, we have…
In a move that emphasizes its commitment to diversifying its business, {complink 987|Celestica Inc.} will acquire Brooks Automation's semiconductor equipment manufacturing business for about $80 million. Brooks, which has operations in the US and China, is Celestica's third acquisition since the beginning of 2010. Although Celestica's Q1 results beat analysts' estimates, the company's growth has…
PITTSBURGH, Pa. — WESCO International, Inc. (NYSE: WCC), a leading provider of electrical, industrial, and communications MRO and OEM products, construction materials, and advanced supply chain management and logistics services, today announced its 2011 first quarter financial results. The following are results for the three months ended March 31, 2011 compared to the three months…
{complink 2657|Intel Corp.} is red hot. The company blew away analysts' revenue and profit estimates in the first quarter, boosting its stocks on the equity market. The stocks rose 7 percent by midday today, April 20, and helped to lift the major indices. What made Intel so successful during the quarter was carefully laid out…
China is tired of playing second fiddle in the semiconductor market. Although it is the world's biggest market for chips, China produces far fewer semiconductors locally than are used in the country by equipment manufacturers and electronics manufacturing services providers. That's about to change. Although Western governments worried about the transfer of critical dual-use (business-military)…
{complink 4842|Seagate Technology LLC} had to respond, smartly and forcefully, to Western Digital's $4.3 billion purchase of Hitachi Global Storage Technologies in March. (See Western Digital-Hitachi Deal Adds to Pressure on Seagate.) It did, today, with the announcement of a deal to acquire the hard disk drive business of {complink 4751|Samsung Electronics Co. Ltd.} for…