On October 22, 2010, a U.S. Customs and Border Protection official provided an update on 10+2/Importer Security Filing at the Western Cargo Conference (WESCCON) of the Pacific Coast Council of Customs Brokers and Freight Forwarders Associations.
The International Trade Commission has announced the institution of investigations and the commencement of preliminary phase antidumping and countervailing duty injury investigations regarding multilayered wood flooring from China.
In National Fisheries Institute Inc., et. al., v. U.S. Customs and Border Protection (NFI V), the Court of International Trade approved CBP’s second remand redetermination regarding the Enhanced Bonding Requirement that had applied to certain importers of shrimp products subject to antidumping duty orders.
The International Trade Administration frequently issues notices on antidumping and countervailing duty orders, investigations, etc. which Broker Power considers to be "minor” in importance as they concern actions that occur after an order is issued, neither announce nor cause any changes to an order’s duty rates, scope, affected firms, or effective period, etc.
Audio component sales grew 73 percent for chip maker Cirrus Logic in Q2 of fiscal 2011 ended Sept. 25, driven by continued growth in portable audio and “strength in general home and audio products,” Chief Financial Officer Thurman Case said on an earnings call Thursday. Audio contributed $71.2 million in revenue in Q2, he said. Sales to the company’s largest end customer were $43.7 million, about 44 percent of sales, he said. In a 10-Q filing at the SEC, Cirrus said the customer was Apple. Sales to Apple were up from 38 percent of Cirrus’s total a year earlier, the filing said. Cirrus is the main audio-chip supplier for Apple’s current-generation iPad and iPhone. Cirrus is “preparing for additional production ramps coming over the next several quarters,” said CEO Jason Rhode. While much of the audio growth came from that “number one customer” in Q2, he said in the call, “we also saw strong growth from a wide range of home audio products,” including Blu-ray players and home theater systems. Cirrus is eyeing opportunities to “expand and diversify our overall audio revenue through key new growth programs,” he said. In automotive audio, it “secured a major design commitment in a tier-one amplifier system that includes multiple Cirrus Logic products,” he said. That system will start “initial production in mid-fiscal year 2012, and has the potential to ramp to more than a million units annually,” he said. Cirrus is also “targeting growth in portable audio via smartphones, tablets and Bluetooth accessories,” he said. The company has had “good conversations” about “potentially customizing” versions of an unspecified smartphone, but there’s “nothing in the real short-term that’s going to be meaningful,” he said. Q2 profit grew to $30.9 million, 42 cents a share, from $6.8 million, 10 cents, in Q2 last year. Overall revenue soared 81 percent to $100.6 million but was slightly weaker than some analysts expected. In energy products, Cirrus “received our first production orders for our power factor correction chip,” Rhode said. Cirrus expects overall Q3 revenue to come in at $88 million-$94 million and predicted that portable audio sales will continue to be strong. But the Q3 projection was weaker than some analysts had expected, and Cirrus shares fell $2.56, or 15.68 percent, closing at $13.77 in Thursday trading.
In a September 7, 2010 decision, Alden Leeds Inc. v. U.S., the Court of International Trade denied U.S. Customs and Border Protection’s request to dismiss an importer’s claim for a refund of estimated antidumping duties deposited in excess of the final AD duty rate.
The International Trade Commission has instituted a section 337 patent-based investigation of certain ground fault circuit liquid crystal display devices and components thereof, pursuant to a complaint.
On July 7, 2010, the Court of International Trade sustained the International Trade Administration's results of redetermination on remand concerning the final results of the administrative review of the antidumping duty order on ball bearings and parts thereof from Germany (A-428-801).
The International Trade Commission has instituted a section 337 patent-based investigation of certain digital televisions and components thereof, pursuant to a complaint.
The Government Accountability Office has issued its report to congressional requestors regarding U.S. Customs and Border Protection’s implementation of the Importer Security Filing (ISF) requirements of the 10+2 interim final rule.