HAWAII

Spirent cuts about 40 more Hawaii jobs

Spirent Communications, struggling to adjust to spending delays that have plagued the telecommunications industry, said yesterday it has laid off about 40 people, or 20 percent, of its 212-member Honolulu work force.

The layoffs from the company formerly known as Adtech came as part of a divisionwide reduction by U.K.-based parent Spirent plc, which purchased Adtech in 1997. Spirent, which delivers test solutions and services for the telecom industry, said that overall it is cutting 230 jobs, or 10 percent, of its communications-unit work force.

Spirent announced the reduction in conjunction with an earnings warnings in which it said second-half operating profit will be significantly lower than first. Spirent's stock lost two-thirds of its market value after the warning.

Jackie Jefferson, spokeswoman for Spirent Communications' Honolulu division, said the remaining employees in the company's Kaimuki office will join the rest of its staff in First Hawaiian Center. She had no timetable for the transition.

Earlier this year, Spirent shifted its Hawaii assembly department operations to California.

Big Island wins accounting award

A financial reporting achievement award has been given to the County of Hawaii by the Government Finance Officers Association. The 14,000-member association of government finance professionals operated in the United States and Canada.

The award was presented to Big Island Controller Deanna Sako.

ASIA

All Nippon Air to add U.S. cargo flight

TOKYO >> All Nippon Airways Co.'s cargo unit, Nippon Cargo Airlines Co., said it will operate an extra flight to the United States tomorrow to cope with rising demand following the 10-day closure of U.S. West Coast ports.

Asia's second-largest carrier will operate an extra Boeing Co. 747-400 between Tokyo and Chicago, said Ryuhei Yamashita, an official of the unit's general affairs division.

Asian companies are struggling to get goods to North American customers and factories following the lockout. Honda Motor Co. shut down production yesterday at three U.S. and Canadian plants because it doesn't have enough auto parts.

Japan Airlines' cargo business, JAL Cargo, doesn't have enough planes to respond to the added demand caused by the port closures, according to a Bloomberg News report.

MAINLAND

Longs Drugs cuts third-quarter outlook

WALNUT CREEK, Calif. >> Longs Drug Stores Corp. lowered its third-quarter earnings forecast today, citing the economic downturn and weak consumer demand.

The Walnut Creek, Calif.-based drug store chain now expects earnings of 7 cents to 11 cents a share, compared with its earlier forecast of 11 cents to 16 cents a share for the quarter ending Oct. 31.

Analysts were expecting third-quarter earnings of 11 cents a share, according to Thomson First Call.

Longs operates more than 400 drug stores in the western United States, 32 of them in Hawaii. It had sales last year of $4.3 million.

Company shares closed down 99 cents on the New York Stock Exchange at $21.40.

In other news ...

Dole Food Co. has declared a fourth-quarter dividend of 15 cents a share. The California-based company said the payout will be made on Dec. 5 to shareholders of record on Nov. 7. It is the fourth straight quarter the company has maintained its dividend at 15 cents.