Home / Markets / Industries / Technology
Monday, October 13, 2008
Qimonda To Sell Inotera Stake To Micron, To Cut 3,000 Jobs
Steve Goldstein
MarketWatch Pulse
LONDON -- Munich-headquartered, U.S.-listed memory chip maker Qimonda announced a restructuring program and the sale of its 35.6% stake in Inotera Memories, a venture with Nanya Technology, to Micron for $400 million in cash. Qimonda will book a loss of 300 million euros on the sale. Qimonda also plans to ramp down manufacturing at its 200mm facility in Richmond by January 2009 and shut its backend component and module manufacturing in Dresden, Germany by March 2009. The company will reduce its R&D and administrative expenses and its headcount, mainly in Munich, Dresden and Raleigh. It's cutting 3,000 jobs, expects 450 million euros of annual savings and expects to take a 50 million euro charge in the next quarter.
Copyright © 2008 MarketWatch, Inc.
Fox Business Video
-
-
$12B Food Security Initiative ...
-
Jul 10, 2009
Initiative to boost food productivity.
-
-
-
Improving Employee Morale
-
Jul 10, 2009
Helping people be happier at work.
-
-
-
Banks Expecting Impressive Ear...
-
Jul 10, 2009
What are banks expecting for 2Q earnings?
-
-
-
CME Head on Oil Speculation
-
Jul 10, 2009
Duffy on Oil Speculation
-
-
-
Small Biz Against Cap and Trade
-
Jul 10, 2009
McArthur on Cap and Trade
-
FOX Translator
No data currently available.
No data currently available.
Most folks judge the health of a business by the revenue that comes in through sales. But not all revenue is equal. Companies can grow their sales by buying other companies, which means you don't get a clear view of how the real sales trends are moving.
So, many analysts, particularly those who look at retail, try to gauge what¿s known as "organic" growth, by looking at same-store sales. These are sales only at outlets open more than a year, so the metric can exclude any sales jump that comes from opening new locations. Retailers release same-store sales (which are frequently called "comps" since they're a true comparison from the previous period) every month.
Retail, incidentally, isn't the only industry to look at same-store sales. Hospital companies, also use the metric, to gauge how existing hospitals are performing compared to ones they just built or acquired.
