UNOVA SET TO REPORT THIRD-QUARTER EARNINGS DECLINE.Byline: Gregory J. Wilcox Wilcox may refer to: Place names in the United States
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Unova Inc., the $2 billion industrial technologies company, is expected to report a decline this week in third-quarter earnings as sales at one of its units remained soft because of Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 issues. The company, based in Woodland Hills, will earn 18 cents a share in the third quarter, 6 cents less than it reported in the 1998 period, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a consensus of analysts polled by First Call. Unova's earnings were to be posted either late Tuesday night or early this morning. The company's fiscal year earnings are also pegged peg n. 1. a. A small cylindrical or tapered pin, as of wood, used to fasten things or plug a hole. b. A similar pin forming a projection that may be used as a support or boundary marker. 2. at 59 cents a share, down from 92 cents in 1998. In June Unova said that problems at its Intermec Technologies subsidiary in Everett, Wash. would prevent the company from meeting its financial goals for the full year. And part of the problems at Intermec would stretch into the third quarter, Unova said. The unit makes equipment used in automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. data collection, such as bar code and radio frequency identification See RFID. systems. Walter Liptak, an analyst at McDonald Investments Inc. in Cleveland, said that investors are not too worried about Unova's third and fourth quarters. He estimates that Unova will earn 17 cents in the September quarter.``The big issue has been their bar coding business and the margins have been soft,'' he said. One problem is that some companies have been holding off on installing new equipment and software until after the first of the year. ``Sales should be robust in 2000 but right now its just a waiting game,'' Liptak said. |
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