Dole reports low Q1 revenue, possible spin-off
Revenue is down at Westlake Village-based Dole Food Co., leading executives to consider spinning off one of its produce businesses to help shareholder value bounce back, the company said in a May 3 earnings report. The fruit and vegetable giant reported revenue of $1.6 billion for the first quarter of 2012, a 4 percent drop Read More →
American Perspective reports $462K in profits ahead of PacWest deal
American Perspective Bank, the San Luis Obispo-based lender being pursued by PacWest Bancorp, reported first-quarter profits of $462,000, about the same as it earned in the same period a year earlier. American Perspective is being purchased by Los Angeles-based PacWest, parent of Pacific Western Bank, in a $58.1 million deal announced April 30. The offer Read More →
Community West earned $819K in Q1
First-quarter profits at Community West Bancshares were up 38 percent to $819,000, the Goleta-based banking company said April 30. The parent of Community West Bank is under regulatory orders from the Federal Reserve Bank of San Francisco and Office of the Comptroller of the Currency that limit its ability to pay out dividends, sell stock Read More →
NiMin finds buyer for California oil assets
NiMin Energy is selling its San Joaquin Valley assets for $27 million, inching closer to the dissolution of the company. The news comes after NiMin, an independent oil and gas firm based in Carpinteria, said earlier this week that it is selling its Wyoming assets for $98 million and dissolving the company. For the past Read More →
Deckers stock slips as profits drop 59%
Unseasonably warm weather dampened first-quarter profits at Ugg boot maker Deckers Outdoor Corp and sent its share price tumbling more than 18 percent after the earnings announcement. The Goleta-based footwear company reported April 26 that quarterly profits were down 59 percent to $7.9 million, or 20 cents per share. The earnings drop came even as Read More →
FCAL profits drop 83%
First California Financial Group’s first-quarter profits plummeted 83.3 percent to $2.6 million, it reported on April 26. Per share, earnings were 8 cents, compared to 54 cents in the same quarter a year earlier. The Westlake Village-based parent of First California Bank said last year’s first-quarter results included a one-time $34.7 million pre-tax gain related Read More →
Ryland trims first-quarter loss as home sales pop
National homebuilder Ryland Group narrowed its first-quarter loss to $3 million from $17.4 milllion as orders for new homes jumped 46.6 percent. Ryland’s revenue climbed 28.7 percent year-over-year to $215.9 million as home orders and closings rose in tandem with average closing prices. The company, which last year moved its headquarters to Westlake Village, said Read More →
