Deckers counters activist investor in letter to shareholders
Deckers Brands’ board of directors released a letter to shareholders, highlighting improvements to its costs, sales and stock performance and urging shareholders to vote for its nominees over those of activist investor Marcato Capital Management. In the Nov. 2 letter, the Goleta-based footwear and apparel company said it had made headway toward its $100 million Read More →
PG&E’s net income climbs despite wildfire liability questions
Despite questions raised about the company’s liability for the fires in Northern California and a slight drop in operating revenues, net income for Pacific Gas and Electric Co. rose 41 percent for the quarter ended Sept. 30. In an earnings release Nov. 2, the company brought down its full-year earnings guidance, citing the reinstatement of Read More →
Net income rises at Community West Bank
Community West Bancshares, parent company of Goleta-based Community West Bank, reported a net income of $1.6 million, or 18 cents per diluted share, for the quarter ended Sept 30 — an increase of 4.9 percent from $1.5 million in the third quarter of 2016. The bank’s net interest margin for Q3 2017 was 4.27 percent. Read More →
Increased sales at Teledyne boost net income
Sales for Thousand Oaks-based Teledyne rose more than 25 percent for the third quarter of 2017, boosting net income up 32.7 percent to $69 million, or $1.90 per diluted share. Aerospace and defense electronics sales rose 7.6 percent for the company, and engineered systems sales increased nearly 10 percent to $73.1 million. Sales in the Read More →
Frontier revenue dips but net losses smaller
Frontier Communications saw a slight dip in third quarter revenue but smaller net losses year-over year, the company announced Oct. 31. Revenue reached $2.25 billion, down slightly from the previous quarter and the third quarter of 2016. But the first nine months of the year saw a 6.5 percent increase in revenue over the same Read More →
Net income grows at Montecito Bank & Trust
Montecito Bank & Trust reported net income growth of 11.52 percent year-over-year in its earnings report for the quarter ended Sept. 30, 2017. The Santa Barbara-based bank said in a news release Oct. 27 that the higher net income was driven by loan growth of 16 percent. Deposits increased 3 percent and assets increased 3.64 Read More →
Amgen product sales slip but income stays steady
Net income at biotech giant Amgen stayed flat for the third quarter, despite a slight downtick in revenues to $5.8 billion, the company reported Oct. 25. Product sales saw a slight decline, including Neupogen, Epogen and its blockbuster rheumatoid arthritis drug Enbrel, which fell 6 percent, but net income stayed steady at a little more Read More →
