Tom Sweeney

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Archive for October, 2010

Nortel to Sell Ottawa Carling Campus to Public Works and Government Services Canada

Posted by sweens on October 19, 2010

October 19, 2010

TORONTO – Nortel Networks Corporation announced that as part of its focus on maximizing value for its stakeholders, its principal operating subsidiary Nortel Networks Limited and Nortel Networks Technology Corporation (together, Nortel) have entered into a sale agreement with Public Works and Government Services Canada (PWGSC) for the sale of Nortel’s Ottawa Carling Campus, for a cash purchase price of CDN$208 million. The sale, targeted to close at end of year, is subject to customary closing conditions as well as approval of certain governmental authorities and of the Ontario Superior Court of Justice.

The Ottawa Carling Campus is located on 370 acres of land in Ottawa’s National Capital Commission greenbelt, and is comprised of 11 interconnected buildings totaling over 2 million square feet.

The sale agreement provides for Nortel to continue to occupy parts of the Campus for varying periods of time to facilitate Nortel’s continuing work on its global restructuring including work under the transition services agreements with the various buyers of Nortel’s sold businesses. All other existing leases will be assumed by PWGSC, including leases with buyers of Nortel’s businesses. With respect to the lease with Ciena, the purchaser of the Optical Networking and Carrier Ethernet (MEN) business, Nortel is directed by PWGSC under the sale agreement to exercise, on closing, Nortel’s early termination rights under the lease, shortening the lease from 10 years to 5 years. This will result, pursuant to the lease with Ciena, in the repayment to Ciena of US$33.5 million from the escrowed sale proceeds from the MEN sale.

The sale agreement further provides that at closing title will be delivered free and clear of all encumbrances, including the charge in favour of Nortel Networks Inc. with respect to an intercompany loan agreement, under which US$75 million is outstanding as previously announced and reported.

As previously announced, Nortel does not expect that the Company’s common shareholders or the NNL preferred shareholders will receive any value from the creditor protection proceedings and expects that the proceedings will result in the cancellation of these equity interests.

http://www2.nortel.com/go/news_detail.jsp?cat_id=-8055&oid=100269828&locale=en-US&lcid=-1

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DragonWave Q2 profits fall 78.9%

Posted by sweens on October 13, 2010

But year-to-date numbers still strong

Packet microwave radio systems supplier DragonWave Inc. reported a sharp reduction in second-quarter earnings late Wednesday as net earnings slipped to $1.2 million, compared to $5.7 million a year earlier.

Revenues were also down, falling to $27.2 million from $32.4 million in Q2 of the company’s fiscal 2010 year.

Despite the disappointing results – which come a week after one analyst advised his clients to ditch the Ottawa-based company’s shares – DragonWave president and CEO Peter Allen said he was “satisfied” with firm’s progress in strengthening its market presence and expanding its base of customers and partners.

“The global demand for mobile broadband Internet services continues to expand – we are still in the early stages of the growth potential for DragonWave mobile backhaul solutions in markets throughout the world,” Mr. Allen said in a statement.

The company’s fiscal year-to-date figures painted a more positive picture. Revenue in the first six months of fiscal 2011 was $75.9 million, a 67-per-cent increase over the previous year.

Profits more than doubled, from $3.4 million to $10.9 million.

In recent months, critics have highlighted how a single customer, wireless broadband services firm Clearwire, provides the lion’s share of DragonWave’s revenues. Clearwire recently slowed its pace of orders from DragonWave, prompting concerns from investors.

In its quarterly financial summary, DragonWave (TSX:DWI) noted it had two customers that each contributed more than 10 per cent of its revenues.

The company is forecasting $30 million in third-quarter revenues.

http://www.obj.ca/Technology/2010-10-07/article-1830603/DragonWave-Q2-profits-fall-78.9%25/1

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Federal contracts (Sept. 27 – Oct. 1)

Posted by sweens on October 13, 2010

OBJ Staff
Ottawa Business Journal

Zylog Systems (Ottawa) Ltd.
1545 Carling Ave.
Description: Informatics professional services
Buyer: DND
$5,077,728.45

Nisha Technologies Inc.
2150 Thurston Dr.
Description: Informatics professional services
Buyer: DND
$3,376,821.11 

Calian Ltd.
340 Legget Dr.
Description: Informatics professional services
Buyer: DND
$2,994,540.14

Thales Canada
1 Chrysalis Way
Description: Underwater sound equipment
Buyer: PWGSC
$2,438,144

Ifathom Corp.
900 Morrison Dr.
Description: Informatics professional services
Buyer: DND
$999,485 

Leroux,Chauhan,Ouimet & Associes Inc.
124 O’Connor St.
Description: Other architectural and engineering services – real property
Buyer: PWGSC
$989,612.25 

Prestige Design and Construction (Ottawa) Ltd.
50 Camelot Dr.
Description: Paving contractor services (except mud jacking)
Buyer: PWGSC
$692,678.70 

TPG Technology Consulting Ltd.
887 Richmond Rd.
Description: Informatics professional services
Buyer: Agriculture and Agri-Food Canada
$594,945

IBM Canada Ltd.
340 Albert St.
Description: ADP software
Buyer: HRSDC
$479,298.90

Statel Capital Technology Partners Inc.
275 Slater St.
Description: Task-based informatics professional services (TBIPS) requirement
Buyer: Agriculture and Agri-Food Canada
$449,960.02

Dalian Enterprises Inc.
151 Slater St.
Description: ADP input-output and storage devices
Buyer: Statistics Canada
$419,727.25

Bolton Electric
5411 Canotek Rd.
Description: Humidification systems upgrades
Buyer: National Gallery of Canada
$371,350

Jolimot Inc.
460 Gréber Blvd.
Description: Translation services
Buyer: PWGSC
$277,121.25 

Senstar-Stellar Corp.
119 John Cavanaugh Rd.
Description: Alarm, signal, and security detection systems, miscellaneous
Buyer: Correctional Service of Canada
$254,565.68

Veritaaq Technology House Inc.
2327 St. Laurent Blvd.
Description: Informatics professional services
Buyer: PWGSC
$236,17 0

Rohde & Schwarz Canada Inc.
750 Palladium Dr.
Description: Electrical and electronic properties measuring and testing instruments
Buyer: Canadian Space Agency
$194,754.13

Serge F. Constant
850 Wilfrid-Lavigne Blvd.
Description: Translation services
Buyer: PWGSC
$172,500 

Version Plus
4038 Eady Crt.
Description: Translation services
Buyer: PWGSC
$161,920 

Motorola Canada Ltd.
360 Albert St.
Description: Radio navigation equipment except airborne, electrical and electronic components and spares
Buyer: Fisheries and Oceans Canada
$153,596.30

Les entreprises Marcel Rocheleau Inc.
154 rue Hillcrest
Description: Translation services
Buyer: PWGSC
$138,621

Calian Ltd.
340 Legget Dr.
Description: Informatics professional services
Buyer: PWGSC
$112,954.80

CGI Information Systems and Management Consultants Inc.
275 Slater St.
Description: $105,282.10
Buyer: Office of the Superintendent of Financial Institutions
$105,282.10

Rohde & Schwarz Canada Inc.
750 Palladium Dr.
Description: Chemical analysis instruments
Buyer: DND
$102,057.65

Pavage Inter Cite
485 Rue de Vernon
Description: Asphalt and joint sealing services
Buyer: National Capital Commission
$101,445

http://www.obj.ca/Local/For-the-Record/2010-10-13/article-1844801/Federal-contracts-%28Sept.-27—Oct.-1%29/1

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