Hello NC,..Re:.JDSU AGM I was at the meeting
Thanks very much for the happy news report. Sounds great!
Cheers,
Lee
Edit - More on the meeting
16 Dec 14:14
OTTAWA (Dow Jones)--JDS Uniphase Corp. (JDSU) shareholders approved a two-for-one stock split at the first annual meeting of the combined JDS Fitel Inc. and Uniphase Corp.
The split, which will bring the company's outstanding shares to 600 million, is effective Dec. 22 on Nasdaq and Dec. 20 on the Toronto Stock Exchange. The company, which has dual headquarters in San Jose, Calif., and Ottawa.
Kevin Kalkhoven, co-chairman and chief executive of JDS Uniphase, told the annual meeting that the fiber-optics components and modules manufacturer is growing so fast that its chief challenge in the coming year is keeping up with customer demand.
"Capacity, capacity, capacity," he said of the company's challenge. "If we don't supply our customers, they will have to do it themselves." Earlier in the day, the company announced a $125 million plant capacity expansion at several locations in Canada, the U.S., Australia, and England. The largest will occur in Ottawa, where a 360,000 sq. ft. R&D and manufacturing facility will be built.
Fast growth has propelled JDS Uniphase to top $1 billion in annualized sales earlier this year, said Kalkhoven, and he predicts the company will become the first to total $2 billion in sales. He did not set a date for reaching the sales
growth goal.
The company has made six acquisitions since the merger on July 6, and Kalkhoven didn't rule out further acquisitions in the coming year. It's stock value has increased 163% since the merger. In Nasdaq trading Thursday, the company's stock is up 18 at 246 3/4, on volume of about 3.2 million shares.
-Julian Beltrame, Dow Jones Newswires; 613-237-0668
(END) DOW JONES NEWS 12-16-99 02:14 PM |
