Bothell’s Cardiac Science posts earnings, sales increase
Published 10:44 pm Tuesday, July 31, 2007
Cardiac Science Corp. reported second quarter earnings of $4.5 million, or 19 cents per diluted share, Tuesday. The Bothell-based company saw a 39 percent increase in defibrillator sales. Net income included a $6 million settlement of a patent dispute with Philips Medical Systems and charges of $2 million in legal and other costs. Cardiac Science continues to expect revenue growth for the full year to be at least 10 percent.
ITunes: 3 billion songs in 4 years
The iTunes Store said Tuesday it had passed a milestone, selling more than 3 billion songs since launching four years ago. The milestone came just six months after Apple Inc.’s music download service surpassed 2 billion tracks. The service launched in April 2003.
Fines, probation for Cipriani father, son
The father and son at the helm of the Cipriani restaurants in Europe and the U.S. pleaded guilty Tuesday to evading millions in taxes. Giuseppe Cipriani and his father Arrigo admitted filing falsified tax returns for 2003 and 2004. The plea deal in Manhattan requires them to pay $10 million in back taxes and penalties and install an independent monitor. It also requires Giuseppe Cipriani, 42, to serve three years of probation. Arrigo Cipriani, 75, must serve five years of probation.
Whole Foods merger questioned
A federal judge on Tuesday questioned a central part of Whole Foods Market Inc.’s argument that it should be permitted to buy its rival Wild Oats Markets Inc. The Federal Trade Commission has filed suit in federal court to block the $585 million deal, claiming that the two companies compete in a niche market of natural and organic food and a merger will hurt consumers. A witness disputed that contention, saying the chains compete with general supermarkets. But Judge Paul Friedman said they don’t for organic food customers.
Consumer spending slow for June
Shoppers took a break in June, boosting their spending at the slowest pace in nine months as high gasoline prices and fallout from the housing slump made people think twice about buying. The Commerce Department reported Tuesday that consumer spending edged up by just 0.1 percent that month.
DreamWorks profit aided by ‘Shrek’
“Shrek the Third” proved to be a charm for DreamWorks Animation, contributing nearly half of its revenue in the second quarter, the company said Tuesday. The studio said it had net income of $61.8 million for the three months ended June 30, or 60 cents per share, compared with net income of $13.7 million, or 13 cents per share, last year.
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