State of the City: Santa Barbara in great fiscal shape
Santa Barbara is in its best fiscal shape since the Great Recession but faces some hurdles in the short-term, top officials said at the annual State of the City breakfast March 24 at the Fess Parker’s Doubletree Resort. City Manager Paul Casey said the city has full-funded general reserves – or 25 percent of one Read More →
Limoneira to pay dividend of 5 cents per share
Santa Paula agribusiness Limoneira declared a dividend of 5 cents per share March 24. The dividend will be paid April 15 to all common stockholders at the close of business April 4. Limoneira badly missed analyst estimates when it reported a first quarter net loss of $3.9 million, or 29 cents per share March 11. Read More →
$40 million apartment complex being built on upper State Street
Construction on a $40 million apartment development has begun on upper State Street, according to Los Angeles-based real estate investment company The Kor Group. The 89-unit complex at 3885 State St. will include one-, two- and three-bedroom residences ranging from 613 to 990 square feet. The Marc will feature onsite retail on the ground floor Read More →
Stellar Biotechnologies applies for delisting from TSX Venture Exchange
Port Hueneme-based Stellar Biotechnologies has applied for a voluntary delisting from Canada’s TSX Venture Exchange. Stellar makes a protein for immunotherapy treatments using a unique sea snail only found off the coastal shores of a small part of California. Common shares of Stellar Biotechnologies stock started trading on the Nasdaq stock exchange Nov. 5. The Read More →
Resonant might run out of operating cash after second quarter
Resonant, a late-stage development company based in Goleta that creates filter designs for radio frequency front-ends for the mobile device industry, said it might only have enough cash to support operations though the second quarter of 2016. The company announced the news when it released 2015 fiscal year results in a March 23 news release. Read More →
Cal Amp stock falls after earnings forecast lowered
Shares of Oxnard-based Cal Amp, which makes products for the wireless sector, fell March 22 after the company lowered its earnings forecast for its fiscal year fourth quarter, which ended Feb. 29. On March 21, Cal Amp lowered its revenue estimates for the quarter from an estimated range of $73 million to $78 million to Read More →
Study results positive for drug Amgen developing to treat osteoporosis
Thousand Oaks-based biotech giant Amgen and Brussels, Belgium-based UCB announced positive results in a Phase 3 trial of romosozumab, an antibody designed to treat osteoporosis. The drug works by inhibiting a protein which results in increased bone formation and decreased bone breakdown. However, the drug is not approved by any regulatory authority for use to Read More →
