Broadband Briefs for 06/12/09
• Symmetricom announces layoffs, lowers guidance
By Traci Patterson
Symmetricom has announced cost reductions – which includes laying off approximately 30 positions, about 4 percent of the company’s workforce, by the end of the year – as part of an ongoing effort to further streamline its business and enhance its operational business model.
The company plans to incur associated restructuring charges – mostly in the fourth quarter – in the range of $1.5 million to $2 million. Upon completion, Symmetricom expects the restructuring to reduce annual costs by approximately $3.5 million.
For the fourth quarter of 2009, net revenues are now expected to be in the range of $53 million to $58 million, compared with previous guidance of $51 million to $58 million.
And for the company’s fiscal 2009, net revenues are now expected to be in the range of $214 million to $219 million, compared with previous guidance of $212 million to $219 million.
• Dish Network, Fisher end legal dispute
By The Associated Press
SAN FRANCISCO (AP) – Dish Network and Fisher Communications say they've squashed their legal dispute and that Fisher stations in seven markets have returned to Dish's satellite TV service. Service was resumed Wednesday.
The stations had been cut off in December after Fisher and Dish couldn't agree on carriage rates. The two companies said Thursday that they have reached a multi-year agreement and that the litigation between them has ended. No further details were given.
The stations are KOMO and KUNS in Seattle, Wash.; KATU and KUNP in Portland, Ore.; KIMA in Yakima, Wash.; KVAL in Eugene, Ore.; KBCI in Boise, Idaho; KIDK in Idaho Falls, Idaho; and KBAK and KBFX in Bakersfield, Calif.