MyDrugRep Snags $9 Million; EMachines Shifts CEOs
After another quarterly loss, Santa Ana-based Procom Technology Inc. is looking to get more revenue outside the U.S. The first step: create a new post that focuses on sales to the rest of the world and hire an executive with a punch-packing resume to fill that post.
The maker of network attached storage systems,large numbers of disks that collectively provide lots of room to store data,slotted John Bonne to fill the newly created vice president of worldwide sales. Procom also named Parsa Rohani to fill the vice president of sales and marketing position at the company. Bonne has some 25 years of experience at companies such as Sharp Microelectronics Group and Boeing Co.’s McDonnell Douglas. Rohani hails from nightly business news fixture Microsoft Corp.
Procom’s management hopes the new executives will drum up business globally and help bring the company out of the red.
“The new positions are more strategic,” said Liz Geffs, a Procom spokeswoman. “We’re hoping they can drive growth.”
Marketer Gets $9 Million
Newport Beach-based MyDrugRep Inc. has done what lately has seemed impossible,secured a second round of cash to continue its growth into the electronic marketing business. With Credit Suisse First Boston Corp.’s The Sprout Group and San Francisco-based Hummer Winblad Venture Partners among its investors, the operator of a portal that allows drug marketers easier access to physicians aims to boost its sales force and develop products.
“We are excited to have the support of Sprout Group and our current investors as we enter the next phase of our growth cycle,” said Chief Executive Quang X. Pham. “Completing this round of financing with top-tier investors in the midst of a challenging fundraising environment, along with our growing base of cash revenues, firmly positions MyDrugRep as a growth company in the pharmaceutical marketplace.”
EMachines CEO Departs
The sudden departure of eMachines Inc. Chief Executive Stephen Dukker left those in the company’s public relations staff at a loss to comment on why one of the company’s co-founders decided to call it quits.
“I’m not sure how long the board of directors knew about it. I don’t know what was going through his mind,” said eMachines spokeswoman Patty Adams, who said the call Dukker had slated to have with analysts in the coming weeks to discuss the company’s poor fourth-quarter results would be postponed further until new management comes on board.
On Feb. 26, eMachines announced Wayne Inouye would replace Dukker as chief executive,only two weeks after the company reported its fifth quarterly loss in a row. Like Dukker, Inouye hails from a computer retailing background, having worked in high-level positions at Best Buy Co. and Good Guys Inc. He’s set to come on board the first week in March.
Microsemi Sales Growing
Santa Ana-based chip maker Microsemi Corp. said sales of its backlight inverter for automobile displays have been growing at a faster than expected clip. The company expected $1 million in sales of backlight inverters in the past three months. Instead, the company has seen and additional half million in sales.
“We are pleased with the rapid adoption of our lighting technologies for these mobile multimedia applications,” said Roger Holliday, vice president of product development for Microsemi’s Power Management Products Group.
The higher sales growth occurs in a division that comprises 2% of Microsemi’s revenue. At the recent Roth Capital Partners Growth Stock Conference, fund managers were interested in the company’s backlight inverter technology, which also goes into handheld computers and airplane entertainment systems.
Legacy Electronics hires CFO
Legacy Electronics, a San Clemente-based electronic components manufacturer, hired William (Bill) R. Benz as its chief financial officer. Before joining Legacy, Benz served as a partner with the Orange County office of Atlanta-based Tatum CFO Partners LLP. Benz also has served as an executive for firms such as Blue Cross and Blue Shield of Colorado, FHP International, now part of Santa Ana-based PacifiCare Health Systems Inc., Lake Forest-based Western Digital Corp., and National Semiconductor Corp.
“Bill’s extensive financial experience, as well as his understanding of the electronics industry will be invaluable as we continue our rapid growth and expansion of services,” said Jason Engle, Legacy Electronics executive, in a statement.
Ingram Productivity Noted
Kudos go to Ingram Micro Logisitics, the distribution arm of Ingram Micro Inc. Modern Materials Handling magazine awarded the division its 2001 productivity award, citing the company’s ability to successfully land business with Web-based companies. According to the magazine, the company has capitalized on the problem that faced many dot-coms: small orders.
“It was the small orders that crippled dot-com (distribution centers) during Christmas of 1999,” according to Terry Tysseland, Ingram Micro Logistics’ senior VP of US operations.
“Most of these facilities had experience with case distribution, but not with the ones and twos that are the bread and butter of Web businesses,” according to the Modern Materials Handling story.
