Shortcuts
Finance and reporting
Land of the setting Sun
Sun saw turnover for its fourth quarter ended 30 June drop by 4.3 per cent to $2.9bn, compared to $3.1bn the previous quarter. Profit dropped to $121m in the same period, compared to $783m in 2004. Steve McGowan, chief financial officer at Sun, said it plans to acquire companies broaden its systems strategy.
Waste regulations hit SMEs
New hazardous waste regulations are in danger of sparking a marked increase in fly-tipping, according to the Federation of Small Businesses (FSB). In a letter to the Environment Agency, the FSB said the regulation, which came into force last month, leaves SMEs open to exploitation by unlicensed waste contractors, and that fly-tipping could escalate as a result.
Cisco acquires Sheer
Cisco has announced plans to acquire Sheer Networks for $97m. Sheer supplies intelligent network and service management products to service providers and large enterprises and the acquisition is expected to close in the first quarter of Cisco’s fiscal 2006.
Citrix goes for growth
Thin client software vendor Citrix grew turnover by 18 per cent, year-over-year, for its second quarter 2005. For the period ended 30 June, the vendor increased turnover by $32.9m to $211.2m, compared to $178.3m in the same period last year. Second quarter profit was $27.9m compared to $31.54m in Q2 2004.
Fab new factory
Intel is to invest $3bn in a new chip factory in Arizona which will use next-generation 45-nanometre technology and 300mm wafers. The factory is scheduled to start production in late 2007 and will be known as Fab 32.
Worldwide job cull at CA
Computer Associates (CA) is to cut 800 jobs worldwide, or five per cent of its workforce as part of a further cost-cutting exercise. CA claims the move will save it an estimated $75m annually. The firm also posted first quarter 2005 results with turnover increasing to $920m compared to $850m last year. Net profit stood at $94m compared to $40m a year ago. CA also acquired email security vendor Qurb for an undisclosed sum.