Irvine Sensors Separates Two Product Lines Into New Units
Irvine Sensors Corp. has decided to form two wholly owned units structured around its semiconductor and computer product lines, and is negotiating to expand its existing relationship with International Business Machines Corp.
As part of a licensing agreement, IBM last year began delivering Irvine Sensors’ chip stacking technology--three-dimensional cubes of chips, stacked one on top of the other, that fit into the space of a single chip. The Costa Mesa company develops high-density computer electronics, infrared detection devices and low-integrated circuits with military and commercial applications.
In an effort to differentiate results for each of its product lines, Irvine Sensors’ two new entities, as yet unnamed, will be outgrowths of its semiconductor products and computer products operations. For example, this year’s overall loss resulted from losses at the Vermont operations, even though Irvine’s other divisions were profitable.
Irvine Sensors’ semiconductor operations are in Costa Mesa, while its computer operations are in South Burlington, Vt.
The company should report a loss of $2.6 million to $2.7 million, or a little less than 18 cents a share, in the fiscal year ended Sept. 30, said John Stuart, chief financial officer. The company lost 18 cents a share, based on fewer shares outstanding, in the previous year.
