Sixteen joint RadioShack-Sprint stores opened in the greater San Fernando Valley on Friday following mass closures when the electronics chain went bankrupt earlier this year.
The “store within a store” outlets were opened by Standard General, a New York investment firm that got control of 1,475 outlets operated RadioShack. Standard General was the Fort Worth, Texas retailer’s largest shareholder.
The new stores opened in Agoura Hills, Burbank, Glendale, Lancaster, North Hollywood, Palmdale, Sylmar, Van Nuys and Woodland Hills.
The stores are selling wireless service and mobile phones by Sprint, in addition to a smaller selection of traditional RadioShack merchandise.
Natel Engineering Co. changed its name to NEO Tech following the merger with another microelectronic assembly producer.
The Chatsworth company announced March 30 it would combine with OnCore Manufacturing LLC, in Fremont to create one of the largest microelectronic assembly firms in the United States.
The new name is made up of the first letter from the Natel, OnCore, and EPIC Technologies, a printed circuit board manufacturer in Ohio acquired by Natel in 2013. That acquisition added more than three plants and about 1,500 employees.
NEO Tech has more than 3,700 employees in 13 locations and revenue topping $700 million.
Founded nearly 40 years ago as a defense contractor, Natel has built up its microelectronic assembly capabilities through acquisitions. Microassembly involves the manipulation of microscopically small parts.
The company supplies customers in the medical, aerospace and defense, and industrial markets with electronic subassembly components. It has facilities in Carlsbad and four other states, as well as Mexico.
Electro Rent Corp. posted lower profit and revenue in the fiscal third quarter, citing slow growth in the telecom industry and a decline in computer sales.
The Van Nuys computer and electronic test-equipment supplier reported net income of $2.4 million (10 cents a share) for the quarter ended Feb. 28, compared with $4.5 million (19 cents) in the same period a year earlier. Revenue decreased 9 percent to $56.3 million.
Chief Executive Daniel Greenberg said federal budget cutback contributed to softness in the telecom, aerospace and defense sectors, while semiconductor makers struggled with declines in personal computer sales.
“Additionally, we were impacted by lower used equipment sales, competitive pricing pressures, a change in product mix and a stronger U.S. dollar, particularly against the Canadian dollar and Euro, which reduced revenues generated outside of the United States,” Greenberg said in a prepared statement.
Shares closed up 20 cents, or nearly 2 percent, to $11.51 on the Nasdaq.