Colorado Investor Cuts California Amplifier Stake
A Colorado businessman who led an unsuccessful attempt to take control of California Amplifier Corp. last year has cut his stake in the Camarillo company.
According to a Securities and Exchange Commission filing, Charles W. Ergen and CAMP Acquisition Corp. of Englewood, Colo., reduced their investment in California Amplifier from 14.6% to 13.5%, or 611,185 common shares. The 53,000 shares were sold between Aug. 4 and 14 for $7.56 to $7.69 each.
A year ago, Ergen launched an unsolicited $3-a-share tender offer for California Amplifier after the company lost $508,000 on $14.3 million in revenue in the year that ended March 2, 1991. But Ergen failed to get enough shareholders to sell their stock to give him control, and he terminated the bid.
Since then, California Amplifier has staged a rebound. In its fiscal first quarter ended May 30, it earned $754,000 and its revenue more than doubled to $8.2 million.
California Amplifier makes components for home satellite dishes and wireless cable systems.
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