02 Feb Tech Digest: Renaissance, Rockwell, Norlight
Wisconsin Rapids, Wis. — Renaissance Learning, Inc., posted net income of $5.2 million in fourth-quarter 2004, on $25.8 million in revenues. That was down from $7.6 million on $31.4 million in fourth-quarter 2003. Renaissance Learning makes learning software, school improvement programs and teacher training systems. President and CEO John R. Hickey said the company was moving to a new subscription-based model and longer selling cycles.
Milwaukee — At its annual shareowners meeting, industrail automation company Rockwell Automation‘s shareowners elected Bruce M. Rockwell, Joseph F. Toot, Jr. and Kenneth F. Yontz to the board of directors, with terms expiring in 2008. Also, as previously announced, Rockwell Automation CEO Keith D. Nosbusch officially assumed the role of chairman of the board. Former Chairman Don H. Davis, Jr. will continue as a board member.
The board also declared a quarterly dividend of 16.5 cents per share on its common stock, payable March 7, 2005, to shareowners of record at the close of business Feb. 14, 2005.
Milwaukee — Norlight Telecommunications, Inc. has decided to restructure its sales leadership team. Norlight, a Wisconsin-based provider of integrated data solutions for businesses, appointed Chris Bassuener to the newly created position of general sales manager, western Michigan; Joe Schorr to the newly created position of general sales manager, eastern Michigan; and promoted Tim Sobocinski to general sales manager, Green Bay.