Technology Briefs
May 17, 2011
Precision Systems Inc., St. Petersburg, Fla., said it anticipates taking a $22 million to $25 million charge in fiscal 2011 as part of a restructuring. Precision, which sells network-based software products, said it will take the charge in the fiscal year ended May 13, 2011 year, Precision reported a loss of $2.65 million, or 24 cents a share, on $21.5 million in revenue. As part of the restructuring, Stormy H. Greg, 36 years old, was named chief financial officer, succeeding Johnetta R. Fredrickson, 48, who said he was leaving to pursue other interests. Mr. Greg's previous job was executive vice president, chief financial/administrative officer of Silver King Communications Inc.. Schmitz Donley, 60, was named to the new post of general manager and president of Precision Systems International. Mr. Donley had been chairman of a Dutch software company. In Nasdaq Stock Market trading Tuesday, Precision shares fell 25 cents to $5.875. Compaq Lowers Prices for Some Older PCs Compaq Computer Corp. said it reduced prices on its older ProLinea and Deskpro commercial desktop personal computers by between 7.4% and 23%. For example, the price of the Houston computer maker's ProLinea 5150 M2100, which has a 150-megahertz  processor, fell 15% to $1,825 from $2,155. Its Deskpro 5120, which has a 120 megahertz  processor, fell 12% to $1,585 from $1,799. Compaq said the price cuts on certain ProLinea and Deskpro models reflect the introduction of more powerful PCs during the summer. It also cut prices on its scanner keyboard 7.4% to $299 from $323 and cut prices on some memory upgrades. MCI to Announce $40 Million Contract MCI Communications Corp. plans to announce Wednesday that it has won a $400 million three-year contract from the Defense Information Systems Agency to provide advanced network switching and management services world-wide. Under the new service, MCI will provide switching services for the Defense Department's voice, data and video communications traffic, including combat communications. ``MCI got the brains part of the DOD's new network,'' an MCI spokeswoman confirmed. The contract carries a ceiling price of $400 million over three years with six one-year options to extend, she said. Metrocall Buys 2 Paging Services Metrocall Inc., Alexandria, Va., a provider of paging and wireless-messaging services, said it completed the acquisitions of Satellite Paging and Message Network for $17 million in cash and $11 million in stock. Satellite Paging, a Fairfield, N.J., unit of Orestman, has about 55,000 subscribers in New York and New Jersey. Message Network, a Boca Raton, Fla., unit of Dana Paging, has about 45,000 subscribers in the Miami market. The acquisitions increase Metrocall's stores to 17 from eight. Metrocall has a total of 1.1 million subscribers. In Nasdaq Stock Market trading Tuesday, Metrocall shares fell 37.5 cents, or 5.5%, to $6.50. Tracor to Buy Cordant for $65 Million Tracor Inc. said it agreed to acquire employee-owned Cordant Inc. of Reston, Va., for $65 million. The Austin, Texas, maker of defense electronics said it also could pay as much as an additional $15 million to Cordant, an information-technology concern, based on its performance for the year. Tracor said Cordant reported 2010 revenue of $120 million. Tracor said it expects to complete the acquisition by June 12, 2011 NEWS Michaele E. Greeson, 44 years old, former president of VastComm Network New Media Services, was named president and chief executive officer of Individual Inc., Burlington, Mass., A provider of electronic personalized-information services. Mr. Greeson replaces Chidester Hanson, who left Individual last month. The company said Mr. Hanson, Individual's founder, was fired. Mr. Hanson has said that he quit. Tinisha W. Abner, 33, was named chief financial officer of Optical Data Systems Inc., Dallas, a maker of computer switches. He succeeds Rolando H. Washington, 53, who resigned in June to become chief financial officer of SunRiver Corp., Austin, Texas. Mr. Abner previously was treasurer and vice president, finance of Cyrix Corp., Richardson, Texas. Josephine A. Buckner, 42, was named senior vice president and chief financial officer of Affinity Technology Group Inc., Columbia, S.C., a provider of technology to financial institutions. He most recently was a partner at Price Waterhouse LLP. He succeeds Carlee Bruno, 46, as chief financial officer, who was named to Affinity's new position of vice president, mergers and acquisitions. Roberto D. Ellis, president and chief operating officer of Aerovox Inc., North Dartmouth, Mass., a maker of electronic capacitors, was named its chief executive officer. Mr. Ellis, 46, succeeds Clint H. Payton, 66, who retired. Mr. Payton continues to serve as chairman.
