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by Stephanie Neil, MA Editorial Staff
Posted on Monday, August 01, 2005 5:24:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | ITC investigation of Symbol begins as CEO resigns to join NCR; company posts $30.5 million net loss in recently completed second quarter on decreased revenues. |
The bitter intellectual property fight between Intermec Technologies Corp., and Symbol Technologies Inc., has escalated to the U.S. International Trade Commission (ITC), which late last week revealed that it is investigating whether Symbol has violated U.S. trade practices by allegedly marketing patent-infringing products. The latest legal dispute comes at a bad time for Symbol. The Holtsville, N.Y. supplier of hand-held mobile computing yesterday revealed that its CEO, William Nuti, has resigned to become CEO at NCR Corp., replacing Mark Hurd who recently took the helm at Hewlett-Packard Co. Nutti's departure preceded Symbol's disclosure earlier today that the company lost $30.5 million in the second quarter ended June 30, on sales of $427.8 million. This compared with net earnings of $28.8 million on revenues of $432.8 million for the like period last year. [Click to continue] |
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