Cypress Semiconductor Corp. now owns all of its Lynnwood-based subsidiary, Cypress MicroSystems, after buying out a minority shareholder. Cypress MicroSystems, which makes programmable devices, posted sales of $23.8 million for its parent company in the fourth quarter.
Bothell biotech narrows losses
Bothell-based Seattle Genetics Inc. lost $7.3 million, or 17 cents a share, during the fourth quarter. That compared with a $10.6 million loss for the biotechnology firm in the same period of 2004. Revenue was up to $2.3 million for the fourth quarter. For 2005, Seattle Genetics lost $29 million, or 70 cents a share, down substantially from a $72 million loss in 2004.
DirecTV growth restores profit
DirecTV Group Inc., the nation’s largest satellite TV provider, returned to a profit in the fourth quarter as modest subscriber growth helped lift revenue. DirecTV reported net income of $121.2 million, or 9 cents a share, in the quarter that ended Dec. 31, compared with a loss in the year-ago period of $288.5 million, or 21 cents a share. Revenue increased 7 percent to $3.6 billion from $3.36 billion.
Snack sales boost PepsiCo. profits
Snack and beverage giant PepsiCo Inc. reported a 13 percent jump in fourth-quarter profits on Wednesday, as strong sales of snacks such as Doritos and Ruffles and noncarbonated drinks such as Gatorade offset higher fuel costs and continued sluggishness in the North American soft-drink business. Quarterly profit totaled $1.11 billion, or 65 cents a share, up from $985 million, or 58 cents a share, a year earlier.
Internet phone firm plans IPO
Vonage Holdings Corp., the country’s largest Internet telephone service, on Wednesday filed for an initial public offering worth up to $250 million. In a statement, founder Jeffrey Citron said he had recruited Mike Snyder to assume day-to-day management of the company, leaving Citron to focus on products and technologies.
Correction
A robotic toy dinosaur that senses surroundings, shows emotion and reacts to touch is a new product offered by Ugobe Inc., a company co-founded by Caleb Chung. An item in this column on Wednesday cited the wrong corporate connection for the dinosaur and for Chung.
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