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Oof! Brocade posts a loss after taking $81m kick in the profits

After four quarters of profits Brocade has posted a $14m loss, due to a costly goodwill write-off as it exits a hardware business. Revenues for the quarter were $537m, down five per cent from the prior quarter’s $565m and the year-ago quarter’s $539m (down one per cent). Three months ago it made a profit of $81m; this time it …
Chris Mellor, 23 May 2014
The Register breaking news

Oracle suffers premature remuneration: Spaffs $900m on shareholders

Oracle is paying shareholders $867m in quarterly dividends early to beat a possible 2013 US tax hike. The company declared on Monday an accelerated second, third and fourth quarter cash dividend of $0.18 per share of outstanding common stock. The bonanza will be paid on 21 December 2012 instead of quarterly in 2013. Oracle’s …
Gavin Clarke, 04 Dec 2012

Apple's strong iPhone sales crush Wall Street moneymen's tepid expectations

Despite not introducing any significant new products during the second quarter of its fiscal 2014 ended in March, Apple has announced unexpectedly healthy revenues and profits for the quarter, with the all-important earnings per share numbers crushing analysts' expectations. Apple historical revenue and profit chart Apple's …
Rik Myslewski, 23 Apr 2014
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NetApp: We laid off 100s, profits dived - and it's all YOUR fault

Storage giant NetApp has reported unremarkable revenue growth and falling profit for its 2013 financial year. It signals that NetApp is now a mature company and not a high-growth stock. But, behind the numbers, the firm has laid off hundreds of employees to help it stay in the black and keep investors at bay. The recently …
Chris Mellor, 22 May 2013
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Dell to focus on enterprises and cut $2bn in costs

If you have Dell stock in your portfolio this week, your 401(k) is probably a little bit happier and healthier. The computer maker is to pony up some cash dividends, funded in part through aggressive cost cutting and a continuing expansion into enterprise IT and away from over-reliance on consumers. Dell hosted its Wall Street …
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Ex-top disk dog down in the revenue dumps

Seagate has announced preliminary third quarter results 11.5 per cent lower than a year ago, with 1.3 million fewer disk drives shipped, but announced it is going to begin making dividend payments. Happy investors have boosted its shares by 9.12 per cent to $16.03. Seagate said for its third fiscal 2011 quarter, ending April 1, …
Chris Mellor, 08 Apr 2011
The Register breaking news

Seagate profits from Thai flooding

Seagate made huge profits of $1.1 billion on revenue of $4.4 billion in its third fiscal 2012 quarter, following a very successful second quarter. The company shipped a record 61 million hard disk drives in the quarter; a 29 per cent increase over the second quarter and 25 per cent higher than a year ago. It is still benefitting …
Chris Mellor, 17 Apr 2012
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The toy of tech: The Mattel Aquarius 30 years on

Once described by Creative Computing journalist David Ahl as “a machine so cheesy, they should have supplied rubber gloves to wear while using it”, the Mattel Aquarius was launched in the UK - and went on sale in the States - 30 years ago this month. Ahl, writing up a list in September 1985 of the worst computers to date, went …
Tony Smith, 10 Jun 2013
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Circuit City reports Q1 loss as US shoppers unplug

Ailing US electronics retailer Circuit City yesterday posted a first quarter loss and another slide in revenues. The Richmond, Virginia-based firm reported that net loss widened to $164.8m, or $1 a share, for the period ended 31 May 2008, compared to $54.6m, or 33 cents, a year earlier. Sales at Circuit City dropped a painful 7 …
Kelly Fiveash, 20 Jun 2008
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Huawei: Inside the lair of the not-so-hidden dragon

Chinese telecoms equipment maker Huawei has a bit of an image problem. It pulled in revenues of more than £10bn in the first half of 2012, thanks to its status as the number two maker of telecommunications infrastructure in the world, just behind Ericsson. It also operates a burgeoning enterprise business and its fast-growing …
Phil Muncaster, 30 Sep 2012
The Register breaking news

BT health problems will cost more jobs

BT shares fell sharply this morning on rumours that it is to cut another 10,000 jobs and take a massive hit on the cost of its NHS work. The telco is preparing to cut 10,000 more jobs - alongside the 10,000 which have already gone. It will also use next month's results announcement to write £1.5bn off the value of ongoing …
John Oates, 14 Apr 2009
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Seagate slashes more jobs

Seagate is cutting a further 1,100 jobs with a view to reaching break-even point, aiming to save $125m a year. Seagate is the world's largest supplier of hard disk drives and the cuts represent 2.5 percent of its global headcount. They will get Seagate's cost down to less than $300m a quarter and, hopefully, make the firm …
Chris Mellor, 13 May 2009
The Register breaking news

IBM: 'We'll double profits by 2015'

IBM expects to double its earnings per share by 2015. Today, IBM is hosting its annual briefing with Wall Street analysts, and this being one of the few times that Big Blue's president, chief executive officer, and chairman speaks, Sam Palmisano stole the show when he said that in the next five years, earnings would reach at …

Shareholders rage over Imation's incredible 88% plunge

How do you build a $226m company? Start with a $2bn one. This joke could apply to Imation, which could go the way of Kodak and turn shareholder value into dross, because its management, facing declining sales of old technology, is late to respond and now buying bum companies with crappy prospects. That's the view implied by …
Chris Mellor, 20 Dec 2011
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Fayrewood bid talks terminated

Fayrewood's mystery suitor is suiting no more: the AIM-listed computer distie announced today that takeover talks, announced on 26 August, have been terminated. Fayrewood sweetened the news with an upbeat trading statement and a commitment to increase dividend payments. Turnover in its core distribution business increased by …
Team Register, 22 Nov 2005
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CA's $35m tax charge hits net income

Computer Associates has said it will miss its quarterly net income target because of a $35m tax charge it incurred by moving international profits back to the US. The charge will cut its net income by $0.06 per share - a substantial amount, considering the company had expected income of between $0.07 and $0.08 per share. …
Lucy Sherriff, 13 Apr 2005
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Alcatel-Lucent reports write-off headache

Alcatel-Lucent has admitted its outlook is dire after it disclosed it would be writing down $4.3bn of assets. The French-American networking group, which has been undergoing a painful cost-cutting strategy to slash 4,000 global jobs in an attempt to pull the company out of the red, said in a statement that, excluding the …
Kelly Fiveash, 11 Feb 2008
The Register breaking news

Telecom Italia to mop up mobile minorities

Telecom Italia is buying the outstanding shares in its mobile division for $21bn. It currently owns 56 per cent of Telecom Italia Mobile, which it spun off as a separate company in 1995. Shares in both companies will be suspended while the bid is decided. Mobile telecoms have enjoyed better growth than fixed line business in …
John Oates, 06 Dec 2004
The Register breaking news

Sales down at Black Box

Black Box Corporation, the hyper-acquisitive networking equipment reseller, saw a big sales fall in the three months ended June 29, 2003, its Q1. Group revenues were $128m, down 17 per cent from $154m last year. North American sales were $86m, down 20 per cent from last year's $36m. All other revenues were $8m, down 20 per cent …
Drew Cullen, 23 Jul 2003
The Register breaking news

Vodafone eyes annual savings of £2.5bn

Vodafone is to cut costs by £2.5bn per year by March 2008. It will do this a combination of £1.4bn through cost-saving measures and £1.1bn through revenue initiatives. The mobile network operator will exploit its size to buy in bulk, and will generate additional revenue by eliminating duplicated effort. In other words, the …
Lucy Sherriff, 27 Sep 2004
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Satyam chairman quits, admits faking accounts

The founder and chairman of Indian outsourcer Satyam Mr B Ramalinga Raju has resigned and admitted fiddling the company's accounts for years in order to inflate profits. The company has had a torrid few weeks - the board admitted the company founders had hocked their shares to guarantee loans and that those shares may have been …
John Oates, 07 Jan 2009
The Register breaking news

Carphone Warehouse cashes in on 3G

Carphone Warehouse made a pre-tax profit of £76m, up 33.8 per cent, on turnover of £1.85bn for the year ended 27 March 2004. It is increasing dividend payments by 30 per cent. The company connected 5.35m customers in the year and of these 2.4m were subscriptions, an increase of 26.4 per cent. Average cash profit per connection …
John Oates, 03 Jun 2004
The Register breaking news

Top BT beancounter to quit

BT's highly respected finance director, Philip Hampton, is to quit the monster telco after just a year in the job. The news - widely trailed in weekend newspaper reports - comes hard on the heels of last week's announcement that chief exec, Sir Peter Bonfield, is to step down at the end of January. The result is that BT now …
Tim Richardson, 08 Nov 2001
The Register breaking news

KPN offer stokes mmO2 bid excitement

Speculation over the future of mobile operator mmO2 was rampant on Monday after Dutch telecoms company KPN made an offer for the firm. The friendly offer, which was rebuffed on Friday when O2 said it had ceased talks with an unnamed operator, has prompted conjecture over whether the mobile arm of Royal KPN NV will now launch a …