TechDay New Zealand - Aotearoa's technology news network

Rakon stories

Fallback
Quantifi Photonics appoints Brent Robinson as independent director
Fri, 6th May 2022
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Brent Robinson, the former CEO of Rakon, has joined Quantifi Photonics' board as an independent director, bringing his experience in technology and growth.
Fallback
Quantifi Photonics appoints Brent Robinson as Independent director
Fri, 6th May 2022
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New Zealand's Quantifi Photonics appoints Brent Robinson, a former Rakon CEO with experience in product development and market leadership, as director.
Profit
Rakon back to profit
Thu, 21st May 2015
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Rakon returns to profit with a USD $3.2 million net gain after closing its UK plant and shifting production to India and NZ, despite doubling its debt.
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Under-fire Rakon closes UK operations plant
Thu, 6th Mar 2014
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Following a NZD $30,000 fine from the NZ Markets Disciplinary Tribunal, embattled Rakon announces closure of its UK Lincoln-based plant.
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Stock market slaps Rakon with $30k fine
Wed, 5th Mar 2014
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Rakon fined £30k by NZ Tribunal over premature market release timing, linked to a strategic partnership and factory sale last year.
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Will Rakon shift UK operations to NZ?
Thu, 20th Feb 2014
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Rakon has advised employees of its UK subsidiary Rakon UK Limited, of its intent to enter consultation for a proposed closure of its British plant.
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Rakon’s Robinson brothers sell shares following breach
Wed, 18th Sep 2013
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Rakon managing director Brent Robinson and his brother, executive director Darren Robinson forced to sell shares after a telling off by the Takeovers Panel.
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Struggling Rakon dangles dividends for ‘long-suffering’ shareholders
Mon, 9th Sep 2013
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Rakon pledges to pay up to 50% of net profit in dividends amidst a 37% share price slump this year, aiming to restore investor faith.
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Rakon braces itself for $54m loss
Fri, 6th Sep 2013
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Rakon faces a staggering USD $54 million net loss for 2014 due to a USD $37 million write-down on its Chinese investment, causing shares to plummet 8.7%.
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Rakon's Robinson brothers to sell shares following breach
Thu, 1st Aug 2013
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Rakon's Brent and Darren Robinson to sell 493,000 shares each after breaching Takeovers Code. The brothers' purchases pushed family ownership over 20%.
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Rakon writes off $32 million on investment
Fri, 5th Jul 2013
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The second-worst performing stock on the New Zealand sharemarket in the past year, will sell 80 percent of its Chinese joint venture factory to reduce debt.
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Rakon plunges deeper into the red
Thu, 23rd May 2013
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Rakon's losses soar to $32.8m as it writes down assets in China and NZ, hitting the lower end of its downgraded earnings forecast.
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Major Rakon investor halves stock
Mon, 18th Feb 2013
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Harbour Asset Management reduces shareholding from 9.04% to 5.15% following cuts to the company's annual earning guidance.
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Rakon shares hit record low
Thu, 14th Feb 2013
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Shares in Auckland-based Rakon hit a historic low after slashing annual earnings guidance, plummeting 24% and wiping out NZD $17m in market value.
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Rakon cuts full-year guidance on delayed sales
Fri, 21st Dec 2012
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Rakon slashes full-year earnings forecast to USD $8-12 million, down from USD $14-16 million, due to delayed sales and thinner margins; shares drop 2.4%.
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Sluggish first half pushes Rakon to $3.96M loss
Fri, 16th Nov 2012
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A sluggish first half saw Rakon's six-month loss widen to USD $3.96M, with falling revenues and rising expenses. Shares dropped 4.4% to 43 cents.
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Rakon to cut 60 NZ jobs
Tue, 6th Nov 2012
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Rakon to cut 60 New Zealand jobs, shifting manufacturing to China and India to cut costs and improve profits by NZD $10 million annually.
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Huawei CEO strengthens ties Down Under
Tue, 21st Aug 2012
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Fresh from agreeing a US$56m deal with Kiwi firm Rakon, Huawei’s CEO Ren Zhengfei arrives in Australia to cement their credentials as a mainstream vendor.
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NZ's Rakon strikes deal with Huawei
Mon, 20th Aug 2012
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Auckland-based company has agreed a deal with Huawei Technologies, stretching five years and quadrupling sales.
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NZ Hi-Tech Awards name winners
Mon, 9th May 2011
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Rakon clinches Company of the Decade and Year at NZ Hi-Tech Awards, celebrated for its daring innovation and global reach.