General Dynamics takes biggest charge in its history, posts $530.1 million loss
Article Abstract:
General Dynamics Corp posts a 4th qtr 1990 net loss of $530.1 million, or $12.71 a share, after taking the largest charge in its history. The charge of $566.9 million was associated with several failed programs, including the cancellation of the US Navy's A-12 aircraft. General Dynamics would not have fared well even without the charge; earnings would have been $36.8 million, or 88 cents a share, less than half the 4th qtr 1989 earnings of $82.8 million, or $1.98 a share. The company's A-12 debacle accounted for a $450 million charge in the 3rd qtr of 1990 and a $274 million charge in the 4th qtr of 1990. Other charges for the 4th qtr of 1990 include a $300 million charge from its Atlas commercial launch business and $70 million charge from its Single Channel Ground and Airborne Radio System.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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Compulink tries to convert skeptics to paperless office; to get technology accepted, firm lowers actual and perceived risks
Article Abstract:
Compulink Management Center Inc is trying to convince companies that handle mountains of paper to try its $55,000 Laserfiche document management system. What sets Laserfiche apart from its competitors is that it is microcomputer-based, meaning it can link up with the same networks found in most offices. Other systems are minicomputer-based, requiring expensive proprietary hardware and software, often costing 10 times more than Laserfiche. Laserfiche scans documents and stores the digitized images on an optical disk. The microcomputer then displays the image with near photographic clarity, and the document can be retrieved by searching for a single word or phrase. Compulink has sold only seven of the systems, but it expects to have sales of $45 million within five years.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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Rocket to reality; the hopes of the commercial launch business plummet back to earth
Article Abstract:
The commercial artificial satellite launch services industry takes off with optimism in the late 1980s only to brought down in the early 1990s with too few prospective satellite launches. Technical difficulties, tight financial resources and competition from China adds to the dampening of the market. The launch business is a disappointment for many in the industry; General Dynamics fares the best but only has 24 commitments for launches between 1990 and 1995, far less than they had hoped for. Some industry observers see the launch industry peaking during late 1990 and early 1991, and then going into decline by the mid-1990s.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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