IN BRIEF.VALLEY INDEX DROPS: The Daily News/Bloomberg News fell 0.15 to 136.68, led by Glendale's Public Storage Inc. and Burbank's The Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. Public Storage fell 1-1/4 to 26-3/4. Disney fell 1-1/8 to 115 1/16. - Bloomberg News ALL POST SOLD: Burbank-based post-production specialist All Post Inc. has agreed to sell most of its assets to Hollywood-based VDI (1) (Video Device Interface) An Intel standard for speeding up full-motion video performance. See DCI. (2) (Virtual Device Interface) An ANSI standard format for creating device drivers. VDI has been incorporated into CGI. Media for $13 million cash. All Post was founded in 1991, combined with AME See AIT. Inc. in 1993 and currently operates five facilities in Burbank with about 150 employees. - Daily News FNET FNET Finish No Earlier Than (project management) PURCHASE: In its first overseas purchase, Westlake Village-based Franklin Telecom said Friday that its FNet Corp. subsidiary has bought a satellite telephone network used by NATO NATO: see North Atlantic Treaty Organization. NATO in full North Atlantic Treaty Organization International military alliance created to defend western Europe against a possible Soviet invasion. troops in Bosnia. FNet purchased the 11-site network, which generates more than $100,000 in revenues a month, from Harris Telecommunications Systems for an undisclosed amount. The company will operate the network with Arlington, Va.-based Megaburst Inc. - Daily News IWERKS ADDITIONS: Burbank-based Iwerks Entertainment has named two new directors to its board: Bruce Beda, chief executive of Orion Partners, and Peter Hanelt, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of the Natural Wonders gift store chain. - Daily News EARNINGS Variflex Inc. Moorpark-based maker of in-line skates, skateboards and other recreational equipment. April 3rd Qtr. 1998 1997 Sales $10.6 million $14.6 million Net Income (Loss) $20,000 ($380,000) Net Per Share 0 (6 cents) The company boosted gross margins by 19 percent compared to the year-ago period by adopting various cost-cutting measures. As a result, the company posted a profit this quarter despite lower sales. |
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