Montecito Bank & Trust loans grew but net income down for first quarter
Montecito Bank & Trust reported total assets of $1.3 billion in an April 27 statement. Loans grew to $722 million for the first quarter of 2016, up 1.5 percent from the previous quarter and 12 percent year-over-year. Net income for the bank was $3.6 million, a decline from first quarter earnings of $3.8 million in Read More →
Teledyne Technologies reports lower first quarter sales
Teledyne Technologies, based in Thousand Oaks, announced a drop in first quarter sales compared to the same period last year. In a May 5 statement, the company said first quarter sales fell from $565 million in 2015 to $530.5 million in 2016. Net income fell from $43.7 million, or $1.20 per diluted share, to $38.4 Read More →
U.S. unlikely to experience negative interest rates
Story updated at 10:30 a.m.: The U.S. is unlikely to experience negative interest rates, Federal Reserve Bank of St. Louis President and CEO James Bullard said at the UC Santa Barbara Economic Summit at the Granada Theater on May 5. He said U.S. labor market strength justifies the Fed’s vision of gradually rising rates and Read More →
Salem Media beats revenue estimates but misses on earnings per share
Salem Media Group beat analyst revenue estimates but missed earnings per share estimates when it reported first quarter earnings May 4. Salem Media Group, a Camarillo-based Christian and conservative radio operator, reported revenues of $64.6 million, up from $61.9 million in 2015, which topped analyst estimates of $63.43 million, according to S&P Capital IQ. Net Read More →
MindBody hits net loss per share estimate
MindBody exceeded analysts’ revenue estimates and hit analysts’ net-loss-per-share estimates when it reported first quarter earnings May 3. MindBody, a San Luis Obispo-based developer of yoga and fitness merchant processing software, posted first quarter revenues of $32 million, exceeding analyst estimates of $30.28 million, up from $22.26 million in 2015, according to S&P Capital IQ. Read More →
LTC Properties beat first quarter revenue estimates
Westlake Village-based LTC Properties beat analyst projections of revenue and funds from operations in its 2016 first quarter earnings report. The publicly traded real estate and investment trust earned $31.88 million in revenue, up from $26.68 million in the first quarter of 2015, surpassing analyst projections by $820,000. LTC Properties funds from operations per common share Read More →
Dole Foods faces criminal investigation over listeria outbreak
Westlake Village-based Dole Foods is facing a criminal investigation from the U.S. Department of Justice over a listeria outbreak that killed four people. The Wall Street Journal first reported the news April 29. In January, Dole Foods suspended production at its Springfield, Ohio, processing facility and removed products from 23 U.S. states and three Canadian Read More →
