News
ST. PETERSBURG, FL -- Analysts are picking Jabil Circuit apart after the EMS firm lowered its earnings per share guidance for its May quarter and admitted to three operating mishaps during the quarter.
"After not missing guidance for four-plus years, we find it suspicious that Jabil incurred three isolated operating miscues in the same quarter -- when any one of the three would have caused (the company to miss its guidance). We also find it bizarre that Jabil provided such a wide EPS range, given that the quarter closed two weeks ago," wrote Carter Shoop of Deutsche Bank Equity Research in a research note issued last night.
"After not missing guidance for four-plus years, we find it suspicious that Jabil incurred three isolated operating miscues in the same quarter -- when any one of the three would have caused (the company to miss its guidance). We also find it bizarre that Jabil provided such a wide EPS range, given that the quarter closed two weeks ago," wrote Carter Shoop of Deutsche Bank Equity Research in a research note issued last night.
SALT LAKE CITY -- CirTran Corp., a full-service EMS firm, has closed and received bankruptcy court approval to purchase almost all assets of Advanced Beauty Solutions for a total of $2.31 million.
Iehab J. Hawatmeh, CirTran's founder and President, said an
Last week's agreement covers ABS's flat iron and hair dryer product inventory, intellectual property, customer lists, a 30-minute infomercial and trade secrets.
CirTran will pay ABS $1.125 million in cash at closing, and will reduce its approved claim in the bankruptcy against ABS by $750,000. CirTran will pay the balance to ABS as a guaranteed royalty over two years.
ABS had defaulted on a manufacturing agreement with CirTran under which the EMS firm was to build hair dryer kits. Through October 2005, CirTran had shipped about $4.75 million worth of product to ABS, for which it had received payments of $788,000. In November, CirTran repossessed approximately $2.34 million worth of product from ABS and began selling those products directly.
In January, CirTran sued ABS, claiming breach of contract and fraud. At the same time, ABS filed for Chapter 11.
The bankruptcy court last week approved of the sale of ABS's assets to CirTran.
Iehab J. Hawatmeh, CirTran's founder and President, said an
Last week's agreement covers ABS's flat iron and hair dryer product inventory, intellectual property, customer lists, a 30-minute infomercial and trade secrets.
CirTran will pay ABS $1.125 million in cash at closing, and will reduce its approved claim in the bankruptcy against ABS by $750,000. CirTran will pay the balance to ABS as a guaranteed royalty over two years.
ABS had defaulted on a manufacturing agreement with CirTran under which the EMS firm was to build hair dryer kits. Through October 2005, CirTran had shipped about $4.75 million worth of product to ABS, for which it had received payments of $788,000. In November, CirTran repossessed approximately $2.34 million worth of product from ABS and began selling those products directly.
In January, CirTran sued ABS, claiming breach of contract and fraud. At the same time, ABS filed for Chapter 11.
The bankruptcy court last week approved of the sale of ABS's assets to CirTran.
ROCHESTER HILLS, MI – EPIC Technologies’ CEO and COO were recognized for entrepreneurial excellence by Ernst & Young at a ceremony on June 8. John Sammut, president and CEO, and Jochen Lipp, vice president operations and COO, received the Entrepreneur Of The Year Award in the Technology category in the Central Great Lakes region.
"While Jochen and I are getting the primary recognition in this award, the reality is that the accomplishments that drove this recognition were attributable to efforts of the entire management and staff of EPIC, “ Sammut said in a press release. “We have an outstanding team and this award continues to demonstrate that industry observers are recognizing that superior results are being generated.”
As Central Great Lakes region award winners, Sammut and Lipp are now eligible for the national program, whose winners will be announced in November.
EPIC is a full service provider of contract electronics services with facilities in Michigan, Ohio, Tennessee and Mexico.
"While Jochen and I are getting the primary recognition in this award, the reality is that the accomplishments that drove this recognition were attributable to efforts of the entire management and staff of EPIC, “ Sammut said in a press release. “We have an outstanding team and this award continues to demonstrate that industry observers are recognizing that superior results are being generated.”
As Central Great Lakes region award winners, Sammut and Lipp are now eligible for the national program, whose winners will be announced in November.
EPIC is a full service provider of contract electronics services with facilities in Michigan, Ohio, Tennessee and Mexico.
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