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30 Aug 2002
Including news from Nortel Networks, ADC, Three-Five Systems, Lumenis and more.
• W. L. Gore and Associates is selling its fiber optic business. "We are refocusing Gore's electronic components business on our core technologies of high performance electrical interconnects and materials," said Russell Shaller, general manager of Gore Photonics.
• Nortel Networks anticipates its third quarter revenues from continuing operations to be 10% lower than the previous quarter. The company had previously expected revenues to remain "essentially flat". Nortel will reduce its workforce by an additional 7000 to 35 000 by the end of the year.
• ADC, the US-based telecommunications equipment maker, has reported third quarter sales of USD 235 million and a net loss of USD 629 million. The sales figures compare to USD 298 million in the previous quarter and USD 548 million a year ago. Net loss was USD 89 million in quarter two and USD 58 million in the third quarter of 2001.
• Three-Five Systems, a US-based displays developer, has named Lexicon as its representative for LCD display products in Korea. Lexicon will provide local sales and engineering support to Three-Five's customers with products manufactured in Korea.
• Medical laser maker Lumenis has signed a primary source agreement with fellow Israeli firm MediGroup Physician Services. MediGroup will sell Lumenis's laser and light-based devices online to independent users in physician offices and surgery centers.
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