In brief: Riber, Raytheon and Cree
MBE equipment manufacturer Riber has posted revenue of €5.4 million ($6.7 million) for the first half of 2005, up 50% year-on-year. The sales included one MBE 49 production machine, one Compact 21 research machine, and various components worth €2.5 million.
The French firm's sales order backlog on June 30 was €13.6 million, which included orders for one MBE 7000 production machine and for 13 reactors designed for research.
Raytheon wins $10 million contractRaytheon has been granted a $10 million contract to develop and demonstrate a GaN-based prototype module for use in radar systems.
The integrated multi-channel module will receive and transmit signals and contain 28V GaN power amplifiers and high-efficiency power supplies.
The development, which should be completed by August 2008, will be shared equally between the company's Tewksbury and Andover sites in Massachusetts.
Court finds Cree not guiltyThe US District Court for the Middle District of North Carolina has completely dismissed the consolidated class action complaint previously pending against Cree and some of its current and former employees.
The Court's dismissal applies to all of the plaintiffs and all of their claims that were still pending from the actions originally filed in 2003, said the company in a statement.
This action against Cree was taken by its shareholders that claimed that the company's share price was artificially inflated by a number of false statements to the marketplace (see related story).
Prior to the action of the shareholders, Eric Hunter, a former Cree CEO, filed a $3 billion lawsuit against the company, which had an adverse affect on the company's share price (see related story). However, Hunter dropped his lawsuit in November 2003 (see related story).
"We have maintained all along that these allegations were without merit," remarked Cree CEO Chuck Swoboda.
