Philips Medical Systems of Bothell will lay off another 33 employees by mid-September, according to a notice filed with the state Employment Security Department. In fall 2004, the company announced that up to 150 local employees could eventually lose their jobs. The latest round will bring the number of people laid off so far to about 108. Philips has more than 1,500 workers at its Canyon Park campus.
Cardiac’s stock falls after report
Shares of Cardiac Science Corp. fell by 7 percent, or 59 cents, to $7.76 on Friday in the wake of the Bothell company’s second-quarter results. On Thursday, the company reported net income of $118,000 on revenue of $39.2 million. The quarter’s results included a $1.3 million expense for legal costs.
Cingular plans to cut 39 jobs in area
Before year’s end, Cingular Wireless plans to lay off another 39 people from offices in Bothell and Redmond, according to a layoff notice filed with the state. Since buying AT&T Wireless in December 2004, Cingular has shed hundreds of jobs in south Snohomish and King counties.
Waste firm’s income in the dumps
Waste Management Inc., the country’s largest solid-waste hauler, on Friday said its second-quarter net income had fallen as the company continued selling off some operations. The Houston-based company, which operates in some parts of Snohomish County, said net income fell to $417 million, or 76 cents a share, from $527 million, or 92 cents a share, in the second quarter of last year.
KING-TV owner reports better profit
Belo Corp., the parent company of Seattle’s KING-TV, reported higher second-quarter earnings Friday on better-than-expected results from its television stations and a tax-related gain. Dallas-based Belo, which owns four daily newspapers and 19 television stations, earned $42.7 million, or 41 cents per share, in the three months ended June 30, compared to $41.9 million, or 36 cents per share, a year earlier. Revenue rose 3 percent to $403.6 million.
Conviction upheld in WorldCom case
A federal appeals court In Washington, D.C., upheld the fraud conviction of WorldCom Inc. founder Bernard Ebbers on Friday, rejecting defense arguments that he was deprived of a fair trial and paving the way for the once-brash mogul to spend the rest of his life in prison. The U.S. Court of Appeals for the 2nd Circuit acknowledged that the trajectory of Ebbers life contained an element of tragedy.
From Herald staff
and news services
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
