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27 Mar 12. QinetiQ reaches agreement to reduce pension deficit and improve security of UK defined benefit scheme. QinetiQ has reached agreement with the Trustees of its UK defined benefit pension scheme for the triennial actuarial funding valuation and other measures designed to reduce the funding deficit and improve the security of the scheme. Following the judgement of Mr Justice Vos in the High Court on 14 March 2012, the Trustees are selecting the Consumer Price Index (CPI) as a suitable cost-of-living index for increases to pensions in payment and the revaluation of deferred benefits. The actuarial impact of the change in index is estimated to be a reduction in the funding deficit of approximately £109m. This is reflected in the result of the triennial funding valuation as at 30 June 2011 which has now been finalised with a net funding deficit of £74.7m. A level of contributions has been agreed with the Trustees which is designed to eliminate the funding deficit, with QinetiQ making annual contributions of £13m to 31 March 2018. The following measures have been agreed with the Trustees to reduce the funding deficit and improve the security of the scheme:
* An immediate one-off payment by QinetiQ of £40m into the scheme.
* A new asset-backed funding structure, secured on certain QinetiQ UK property, which will provide a yield of approximately £2.5m cash per annum for 20 years to the scheme (index linked annually by reference to CPI). This is included in the £13m recovery plan contributions.
* A 20-year deed under which QinetiQ Group plc will assume the on-going liability for the scheme in defined circumstances such as the insolvency of participating employers.

30 Mar 12. Micron Technology, Inc. (Nasdaq:MU), reached an agreement with Oracle America Inc. to settle a lawsuit filed by Oracle against Micron in the U.S. District Court for the Northern District of California. The lawsuit alleged a conspiracy to increase DRAM prices and other violations of federal and state antitrust and unfair competition laws based on purported conduct for the period from Aug. 1, 1998, through at least June 15, 2002, and sought joint and several damages, trebled, as well as restitution, disgorgement, attorneys’ fees, costs and injunctive relief. Pursuant to the settlement agreement, the parties agreed to a settlement and release of all claims and a dismissal with prejudice of the litigation. Under applicable accounting principles, the effect of this settlement on Micron’s results of operations for the second fiscal quarter of 2012 is a reduction in revenue and an increase in the net loss attributable to Micron shareholders of $58m as compared to the results previously reported on March 22, 2012, with corresponding adjustments to other items included in the company’s results of operations. As a result, for the second quarter of fiscal 2012, Micron’s net loss attributable to its shareholders was $282m, or $0.29 per diluted share, on net sales of $2.009bn. The full effect of the settlement on Micron’s results of operations and financial position for the second quarter of fiscal 2012 will be provided in Micron’s Form 10-Q.

30 Mar 12. SL INDUSTRIES, INC. (NYSE AMEX: SLI) net sales from continuing operations for the year ended December 31, 2011, were $212.3m, up 12% compared with net sales from continuing operations for the year ended December 31, 2010 of $189.8m. For the year ended December 31, 2011, net income from continuing operations was $12.8m, or $2.80 per diluted share, a 31% increase over net income from continuing operations of $9.8m, or $1.68 per diluted share, for the year ended December 31, 2010. Net income for the year ended December 31, 2011 was $8.2m, or $1.79 per diluted share, compared to net income of $2.6m, or $0.44 per diluted share, for the year ended December 31, 2010. Net income for the year ended December 31, 2011 included a net loss from discontinued operations, after tax, of $4.6m, or $1.01 per diluted share, co

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