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Eye On Business
Eastman Kodak Company ( Rochester, NY) has closed its acquisitionof the imaging business of National SemiconductorCorp. ( Santa Clara,CA), which developed and manufactured complementary metal oxide semiconductorimage sensor (CIS) devices. Under the agreement, Kodak has acquiredcertain assets, including intellectual property and equipment, andhas hired approximately 50 employees who previously supported National’simaging business. Financial terms of the agreement were not disclosed.National’s imaging business is now a part of Kodak’sImage Sensor Solutions (ISS) organization. Through this acquisition,Kodak has added additional resources and technologies (includingadvanced mixed-signal circuit design) that will further strengthen Kodak’s ability to design next-generation CISdevicesthat promise to deliver improved image quality with complex on-chipimage processing circuitry.
DICOM Group plc ( Basingstoke, UK) announces it will make a voluntarypublic takeover offer to acquire the entire issued sharecapital of TOPCALL International AG ( Vienna, Austria). The offer valuesTOPCALL at €40.5m($49.4 million). The transaction, expected to close in November2004, is subject, inter alia, to the receipt of valid acceptancesfor at least 75% of the issued share capital of TOPCALL andother closing conditions.
For the year ended June 30, 2004, revenues for CedaraSoftware Corp. ( Toronto, ON, Canada) were $50.4 million Cdn ($39.4 million), up 67%from the $30.1 million Cdn reported in FY2003. The company posted a record net income of $15.6 million Cdn for FY2004, compared to a net loss of $13.3 million Cdn last year. Software license revenues were $33.8 million in 2004, an increase of $22.2 million Cdn over the previous year support services revenue increased to $4.6 million Cdn in 2004 compared to $3.9 million Cdn in 2003. Cedara's revenues in the fourth quarter were $14.7 million Cdn compared to $6.6 million Cdn recorded in the same period last year. The company posted net income of $4.9 million Cdn for the fourth quarter of FY2004, compared to a net loss of $3.7 million Cdn in the same quarter last year. Gross margin of 75% of revenue in the fourth quarter of FY2004 was substantially improved from the 64% posted in the fourth quarter of the previous fiscal year.
FY2004 second quarter revenues for TSI TeleSys ( Columbia, MD) totaled$0.9 million, with a gross margin of 36% of revenues. This compares withrevenues of $1.3 million and a gross margin of 38% in the same periodin FY2003. Deliveries made during the quarter included the delivery ofmultiple units of the company's Functionally Distributed Processor (FDPs)for NASA's International Space Station (ISS) Downlink Enhancement Architecture(IDEA) project, several units of transceiver cards to a US defense contractorand a signal generator for NASA's Solar Dynamics Observatory (SDO) program.Orders received in the second quarter of FY2004, which ended June 25,2004, equaled $1.2 million as compared with $2.2 million for the sameperiod in FY2003. The total included orders for eight additional FDPs, as well as several orders for maintenance support on TSI TeleSys system products that have already been fielded. At the end of the second quarter of FY2004, orders backlog stood at US$0.9 million, as compared with an orders backlog of $1.8 million at the end of the second quarter of FY2003.
CEDIP Infrared Systems ( Croissy-Beaubourg, France) has openeda new subsidiary company — CEDIP Infrared SystemsGmbH — toincrease support to and further develop its growing base ofcustomers in German-speaking markets. The new company has chosenthe Munchen Technology Zentrum in the heart of the Munich high technologyarea to locate its offices. CEDIP Infrared Systems GmbH will be responsiblefor promoting, marketing and supporting CEDIP products in Germany and inGerman-speaking countries. Within the new facility, there are plans toimplement a temperature calibration laboratory and a camera testing facility.