IN THE PAPERS
In The Papers 16 June
16-06-2010
by Sylvia Leatham
Andor posts record revenues | Eircom to invest in fibre broadband trials
The Irish Times reports that strong sales in China helped Belfast-based Andor Technology increase revenue to a record STG20 million in the six months to the end of March. According to the latest interim results, a 24 percent jump in turnover drove an 87 percent hike in adjusted pre-tax profits to STG3.3 million. Andor, which operates at the high-value end of the global scientific digital camera market, said earnings before interest, tax, depreciation and amortisation rose by 68 percent to STG3.5 million.
The paper also says that Eircom is to invest EUR20 million in "ultra fast" fibre broadband trials in Sandyford, Dublin, and Wexford Town next spring. The trials will be available to about 10,000 residential and business customers and will offer broadband speeds of up to 150Mbit/sec. Eircom also said it would allow rivals access to the trials for the technology, which will support faster download speeds and cloud computing applications. Chief Executive Paul Donovan said he hoped this would be a precursor to collaboration among operators in building a fibre-based network across the country. Independent consultants have indicated that such a network could cost EUR2.5 billion.
In more news of Eircom, the Irish Independent says that CEO Paul Donovan has said the telco is still cutting jobs and costs as the recession and increased competition from mobile operators encourages customers to cancel their landline subscriptions. "We do not see any sign of economic recovery," he said. "We are continuing to focus on reductions to transform our customer base." Eircom will have cut 1,200 employees by September but will have to slash more jobs in future, he conceded.
The same paper notes that 12 Irish primary schools are taking part in a EUR4.3 million European-wide science and maths project. The aim of the Fibonacci Project is to help develop a strategy for scientific literacy and awareness for primary schools across Europe. Dr Cliona Murphy and Dr Janet Varley from the Centre for the Advancement of Science and Mathematics Teaching and Learning at St Patrick's College, Drumcondra, will coordinate the project in Ireland.
The Irish Examiner reports that jobs created by foreign companies plunged 45 percent last year as Ireland slipped in the rankings of attractiveness as a location for investment. Ireland fell one place to tenth in a list of the most attractive destinations for foreign direct investment in Europe in 2009, according to an Ernst & Young survey. The number of jobs created by foreign direct investment firms in 2009 fell to 3,461. Ireland has a 3 percent share of the foreign direct investment jobs in Europe. Technology and financial services made up over 40 percent of all FDI jobs in 2009.
The same paper notes that smartphone users are snapping up mobile apps that imitate the sound of the vuvuzela, which is making headlines on account of fans' use of the noisy instrument during World Cup matches. At present, three of the 15 most popular free apps for the iPhone offer users the chance to make their own noise without having to visit South Africa.
The paper also says that Leaving Cert students could face investigation based on online reports of cheating at exams. The State Examinations Commission (SEC) has confirmed it is investigating claims of cheating at one school after discussions on the Boards.ie website at the weekend. One student started a discussion thread on Saturday saying that other Leaving Certificate candidates were retrieving hidden notes and reading notes from mobile phones. "We are commencing an investigation into an allegation made by a student in relation to cheating at an exam centre," an SEC spokesperson said.
According to the Financial Times, German chipmaker Infineon has hired US investment bank JPMorgan to explore a possible sale of its wireless business. Sources said at least one possible buyer had approached the German firm, which is now looking at all options for the unit. However, a sale is seen as unlikely as Infineon is set to demand a high price following a successful restructuring, which saw the business return to profit in the first half of the year. Bankers estimate that the unit could be worth around EUR1 billion.
The Wall Street Journal reports that Nintendo unveiled a new hand-held game system that displays 3D images without the need for glasses, while rival Sony presented a lineup of new 3D titles at the E3 games exhibition in Los Angeles. Both Nintendo and Sony made 3D a central element of their presentations, with Nintendo showcasing its 3DS handheld, an upgrade to its DS portable game machine. Sony showed off new 3D games including the latest versions of blockbuster franchises such as car racing game 'Gran Turismo' and shooting game 'Killzone'.
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