a group of former DivX techies, has raised a total of $8.5 million so far since it was founded.
—San Diego’s Qualcomm (NASDAQ: [[ticker:QCOM]]), the world’s biggest maker of wireless chips for mobile phones, delivered strong financial results for its fiscal second quarter—and a weakened outlook for the rest of the year. In reporting second-quarter profit of $774 million (46 cents per share) on revenue of $2.66 billion, Qualcomm showed that rapid growth in smartphone sales is helping to keep its operating margin at 29 percent. CEO Paul Jacobs also noted that 3G subscribers have now surpassed 1 billion worldwide.
—San Diego-based Cymer (NASDAQ: [[ticker:CYMI]]), which makes advanced laser systems used in semiconductor manufacturing, says it will report sales for the first time this summer from a new system it has developed for use in making ultrathin display screens. The company reported a profit of $16 million (53 cents a share) on revenue of $113.7 million for the first quarter of 2010.
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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