Technology Briefs - Nov. 5 - 11
The Latest Headlines:
- DOT Contracts UTC to Develop Fuel-Cell Power
- Ritchie Bros. Sets Record for Online Auction Participation
- Qualcomm Sees Improvement in 4Q Results
- Minorplanet Revises Fiscal Year
- Ritchie Bros. Sets Record for Online Auction Participation
DOT Contracts UTC to Develop Fuel-Cell Power
The U.S. Department of Transportation has awarded a contract to UTC Fuel Cells, a division of United Technologies Corp. and the Northeast Advanced Vehicle Consortium to design a heavy-duty, zero-emission power plant for buses.Similar technology has been discussed as a solution for trucking to new, more stringent diesel emissions standards.
The project is being funded by a $2.6 million grant with a $2 million contribution from UTC Fuel Cells.
(Click here for the full press release.)
Ritchie Bros. Sets Record for Online Auction Participation
Ritchie Bros. Auctioneers said that its two-day auction on Nov. 6 and Nov. 7 set a record for online participation.Nearly 20% of all bidders, about 338, came from the Internet, Ritchie Bros. said.
The auction, which sold close to 1,800 trucks and other pieces of heavy equipment, raised $21 million, $3.6 million of that from online sales.
Ritchie Bros. said that there were successful Internet-based bids from as far away as the United Arab Emirates, the Netherlands, New Zealand and Venezuela. Transport Topics
(Click here for the full press release.)
Qualcomm Sees Improvement in 4Q Results
Mobile communications provider Qualcomm said that it had a profit of $190 million or 23 cents a share in the fiscal fourth quarter of 2002. For the same three-month period last year, the company posted a loss of $75 million or 10 cents a share.The company's sales totals rose 34% in the quarter ended Sept. 30 to $874 million.
For the full fiscal year, the San Diego-based company had earnings of $360 million on $3.04 billion in revenue. During fiscal 2001, Qualcomm lost $578 million or $2.68 billion in revenue.
In its earnings statement, Qualcomm said it shipped nearly 15,000 of its OmniTRACS mobile transportation communications units in the quarter – up from the 13,000 it shipped in the same timeframe in 2001.
"The increase in unit shipments can be mainly attributed to additional sales in the private fleet transportation market," the company said. Transport Topics
(Click here for the full press release.)
Minorplanet Revises Fiscal Year
Light-fleet management provider Minorplanet Systems USA revised its fiscal year to match that of its British parent company, and reported financial results for the eight months ending Aug. 31 without reporting third-quarter results.Minorplanet focuses on wireless management systems for small pickup-and-delivery and service fleets in urban areas.
It said revenues of $42 million were down $12 million from the first eight months of fiscal 2001, while its net loss shrank to $9.8 million from $15.6 million. Minorplanet last issued a quarterly report June. 30. Transport Topics
This article appears in the Nov. 11 print edition of Transport Topics. Subscribe today.
