Business briefs
17 Jun 2002
Including news from Lucent Technologies, Corning, Cree, Eblana Photonics and more.
Lucent Technologies, US, expects the revenues for its third quarter to decline by approximately 10-15% from the USD 3.52 billion posted in the previous quarter. Aiming to return to profit during 2003, chief financial officer Frank D'Amelio said that Lucent's restructuring efforts remain on track and the 50 000 employee mark should be reached by the end of September.
Corning Cable Systems plans to axe more than 600 jobs through the downsizing of its Americas organization and the restructuring of its optical assembly plant in North Carolina, US. These actions, along with the previously announced closing of its Puerto Rico facility, represent a 10% cut in the company's total Americas workforce and are part of the overall restructuring plans that Corning announced in April.
Cree has raised its revenue outlook for the three months ending June 2002 thanks to a strong demand for its LEDs, particularly for wireless handsets. The company is now targeting increased revenue for the quarter in a range of 8-11% above the March 2002 figure. Previously, the company had anticipated revenue growth of 5% sequentially.
Trinity College Dublin spin-off Eblana Photonics of Ireland has announced new funding from ACT Venture Capital and Enterprise. This brings the total investment in the laser module developer to EURO 3.6 million (USD 3.4 million) in just over a year.
The University of Arizona is to expand its
Optical Sciences Center. Work to build the 47 120 square foot centralized location will begin later this year and is scheduled for completion in early 2004. The new building will house research labs, meeting space and faculty offices.
US-based ultrafast fiber laser developer IMRA has expanded its R&D operations at its Michigan headquarters. Adding an 11 000 square foot building to its existing site, IMRA will use the space for prototyping and first-stage production of new fiber lasers. IMRA also expects to increase its number of US employees to 80.
