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Stock Market & Financial Investment News

News Breaks
July 10, 2014
08:17 EDTSPASparton unit acquires Electronic Manufacturing Technology
Sparton announces that its wholly owned subsidiary, Sparton eMT, has acquired Electronic Manufacturing Technology, a $25M revenue business located in Irvine, California, in an all-cash transaction. The company said, "We are pleased to have eMT join the Sparton family and expect it to be accretive to earnings within the first twelve months.” The transaction was funded through Sparton’s borrowings under the credit facility currently in place with BMO Harris Bank.
News For SPA From The Last 14 Days
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February 8, 2016
07:15 EDTSPASparton downgraded to Market Perform from Outperform at Barrington
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February 5, 2016
18:42 EDTSPASparton CEO Cary Wood resigns, Joseph J. Hartnett named Interim CEO
Sparton CEO Cary Wood has resigned as its President and CEO effective immediately. Also, Michael Osborne, Senior VP, Corporate Development, has left the company, also effective immediately. Also effective immediately, Joseph J. Hartnett, current Chairman of the Board of Directors, has been appointed as interim CEO and will serve in that position until a new President and CEO has been appointed. Hartnett has stepped down as Chairman and from the board's Audit Committee but will remain on the board. Sparton Board Member James R. Swartwout has been appointed by the board as chairman. Osborne's duties have been reassigned to other members of Sparton's senior management team. The Board of Directors is actively conducting a search for a new CEO. It is expected that when appointed, the new CEO will also serve as a member of Sparton's board. Hartnett has served as a member of Sparton's board of Directors since 2008 and as Chairman since 2014. Hartnett has served as a member of the Audit Committee of the board but has resigned from the Committee upon his becoming interim CEO.
February 2, 2016
16:49 EDTSPASparton to implement customer-facing enhancements
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16:47 EDTSPASparton reports Q2 sales backlog $264M, up 16% vs. last year
Reports Q2 sales backlog of approximately $264M, representing a 16% increase over the prior year quarter, but a 5% decrease from the end of the Q1 of FY16.
16:46 EDTSPASparton reports Q2 adj. EPS 25c, consensus 27c
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