News
MINNEAPOLIS – Nortech Systems reported net sales of $29.3 million for the fourth quarter, up 6% year-over-year. Operating income was $1.1 million, up 47% compared to 2006. Net income totaled $504,112, up 13.8% year-over-year.
For 2007, the company reported record net sales of $118.1 million, up 12% year-over-year. Operating income increased 38%, to $3.6 million. Net income was $1.6 million, up 20% compared to 2006.
“Last year’s accomplishments were highlighted by a successful acquisition and the launch of our Lean manufacturing initiative,” said Mike Degen, Nortech’s president and CEO.
“Our backlog position ended the year strong across our company, positioning us well for the first quarter,” he said.
The acquisition of Suntron’s assembly operations in Garner, IA, last February added capabilities and customers in new markets, including agriculture and oil and gas.
Nortech’s Lean manufacturing initiative was deployed at its aerospace systems operation last year. Rollouts are planned at other Nortech locations during 2008.
For 2007, the company reported record net sales of $118.1 million, up 12% year-over-year. Operating income increased 38%, to $3.6 million. Net income was $1.6 million, up 20% compared to 2006.
“Last year’s accomplishments were highlighted by a successful acquisition and the launch of our Lean manufacturing initiative,” said Mike Degen, Nortech’s president and CEO.
“Our backlog position ended the year strong across our company, positioning us well for the first quarter,” he said.
The acquisition of Suntron’s assembly operations in Garner, IA, last February added capabilities and customers in new markets, including agriculture and oil and gas.
Nortech’s Lean manufacturing initiative was deployed at its aerospace systems operation last year. Rollouts are planned at other Nortech locations during 2008.
SAN JOSE – Tessera Technologies claims recent questions over a handful of the chip-packaging firm’s patents mischaracterized the process and the patents’ validity.
“Nothing issued by the U.S. Patent and Trademark Office in these reexaminations has overturned our patents. We believe the market may have misunderstood the PTO’s terminology, and we are taking this opportunity to clarify the process,” said Scot Griffin, senior vice president and general counsel, in a statement. “Claims of a patent cannot be invalidated in reexamination until the process is fully complete, including all appeals.”
The PTO recently issued office actions regarding claims in five Tessera patents, and the company anticipates action on a sixth shortly. However, asserts Tessera, the PTO reexamination process does not suggest a final determination against the company. Moreover, after a determination, Tessera could appeal and the patents would remain in force throughout all appeals.
Tessera is familiar with prior art to the patents under reexamination because of previous lawsuits; the company says those lawsuits were resolved in its favor.
On March 4, Tessera petitioned the U.S. International Trade Commission to review the recent decision to stay its wireless ITC action. ITC staff also filed its own petition arguing against the stay. The commission is expected to decide within the next 25 days whether it will review the stay decision.
“Nothing issued by the U.S. Patent and Trademark Office in these reexaminations has overturned our patents. We believe the market may have misunderstood the PTO’s terminology, and we are taking this opportunity to clarify the process,” said Scot Griffin, senior vice president and general counsel, in a statement. “Claims of a patent cannot be invalidated in reexamination until the process is fully complete, including all appeals.”
The PTO recently issued office actions regarding claims in five Tessera patents, and the company anticipates action on a sixth shortly. However, asserts Tessera, the PTO reexamination process does not suggest a final determination against the company. Moreover, after a determination, Tessera could appeal and the patents would remain in force throughout all appeals.
Tessera is familiar with prior art to the patents under reexamination because of previous lawsuits; the company says those lawsuits were resolved in its favor.
On March 4, Tessera petitioned the U.S. International Trade Commission to review the recent decision to stay its wireless ITC action. ITC staff also filed its own petition arguing against the stay. The commission is expected to decide within the next 25 days whether it will review the stay decision.
On March 5, Amkor filed a motion with the arbitration panel to stay the scheduled March 31 hearing with Tessera, in view of the recent PTO reexamination actions. Tessera opposes this motion.
SEOUL – A former senior engineer with South Korea's LG Electronics has been arrested for pilfering flat-screen TV technology and leaking it to China, say published reports.
LG pegged the losses from the leak at some $1.4 billion, according to the reports.
The former employee has been charged with stealing computer files on the design of LG’s PDP plant after leaving the company in 2005. Two other LG employees have also been indicted, according to reports.
Since February, the former employee has advised Changhong-Orion PDP-Chaihong of China on constructing a PDP plant in Szechuan province. The Chinese company is expected to come online in December.
LG Electronics, Samsung SDI and Matsushita of Japan are the only companies that had this technology, the spokesperson said. The technology involves creating eight PDP units from one.
LG pegged the losses from the leak at some $1.4 billion, according to the reports.
The former employee has been charged with stealing computer files on the design of LG’s PDP plant after leaving the company in 2005. Two other LG employees have also been indicted, according to reports.
Since February, the former employee has advised Changhong-Orion PDP-Chaihong of China on constructing a PDP plant in Szechuan province. The Chinese company is expected to come online in December.
LG Electronics, Samsung SDI and Matsushita of Japan are the only companies that had this technology, the spokesperson said. The technology involves creating eight PDP units from one.
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