Washington: Microsoft Corp., the world’s largest producer of software, has asked a federal judge to reduce the record $1.52 billion in patent-infringement damages that Alcatel-Lucent was awarded by a jury, or order a new trial. Lawyers for the company asked US district judge Rudi Brewster in San Diego to trim the jury’s damage calculation or retry the case in the wake of US Supreme Court decisions last month. The high court rulings made patent suits harder to win and limited damage awards for software sold overseas.
In February, a jury in San Diego decided Microsoft must pay Alcatel-Lucent for infringing patents covering the MP3 digital-music standard without permission. It was the largest patent verdict in US history. “The jury’s findings have now been undercut by two new Supreme Court decisions,” Microsoft said in court papers. “The court should take action to a correct a grave injustice and restore confidence in the patent system.” A hearing request is set for 21 June. (Bloomberg)
IBM earnings growth at 1.8%, trails rivals
Bangalore: The world’s largest tech consulting services firm International Business Machines Corp. grew slower by revenues in 2006, even as rivals Electronic Data Systems Corp. and Accenture Ltd continued to grow their revenues higher than industry growth rates, analyst firm Gartner Inc. said on Wednesday. The total market for worldwide IT services, which involves application development and maintenance grew 6.4% to $672.36 billion (Rs27.57 crore) in 2006 over the previous year. IBM sales grew 1.8% to $48.25 billion in 2006. Indian vendors, including Tata Consultancy Services, Infosys Technologies and Wipro Ltd, earned just 3% of global IT services revenues in 2006. ( Staff writer)
Bajaj Auto Finance’s Q4 net double at Rs20.8 cr
New Delhi: Bajaj Auto Finance Ltd has said fourth-quarter profit more than doubled. Net income in the three months ended 31 March climbed to Rs20.8 crore from Rs9.1 crore a year earlier, it said in a statement to the Bombay Stock Exchange on Wednesday. Sales increased to Rs126 crore from Rs72.4 crore. (Bloomberg)
Glenmark can sell Pravachol copies in US
New Delhi: India’s Glenmark Pharmaceuticals Ltd won US regulatory approval to sell a generic version of Bristol-Myers Squibb Co.’s cholesterol medicine Pravachol.
Glenmark will sell oral tablets in three dosage forms, the Mumbai-based company said in an emailed statement.
Pravachol has annual sales of more than $861 million (Rs 3,485 crore). (Bloomberg)
Balaji Q4 net up 7.25% at Rs21.27 crore
Mumbai: Balaji Telefilms on Wednesday reported a 37.25% rise in net profit at Rs21.27 crore for the fourth quarter ended 31 March, compared with Rs15.50 crore for the corresponding period last fiscal.
Total income has increased by 3.77% at Rs81.09 crore for the January-March quarter this fiscal against Rs78.14 crore for the same period last year.
The Ekta Kapoor-controlled company registered a net profit of Rs79.72 crore for the year ended 31 March, compared with Rs59.64 crore in the year ago period.(PTI)