American Riviera Bank expands into former home of Bank of Santa Barbara
Santa Barbara-based American Riviera Bank expanded its residential lending department into new office space at 18 E. Figueroa St. in downtown Santa Barbara, President and CEO Jeff DeVine announced on June 13. The space was formerly home to the Bank of Santa Barbara, which was acquired in January by American Riviera in an all-stock deal Read More →
SEC warns firms about using non-GAAP numbers
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Policy normalization must continue
By Dan E. Hamilton Since 2008, the Federal Reserve has been engaged in an unprecedented experiment, one without any economic theory to recommend it. Its policies are internally inconsistent. Some work to restrict credit. Others ease credit. The 2007 failure of New Century Financial, a leading subprime lender, did not derail the economy. However, when Read More →
Limoneira misses second quarter estimates but analysts reconfirm strong outlook for year
Santa Paula-based Limoneira reported drops in revenue and operating income for the second quarter of 2016 in an earnings report June 9. But analysts reconfirmed strong fiscal year 2016 and 2017 outlooks despite the quarter’s performance, due to favorable lemon pricing and expectations for the company’s real estate development segment. Limoneira’s recently expanded packing facility Read More →
Calavo Growers reports highest quarterly net income in company history
Calavo Growers had its highest quarterly net income and gross profits ever, the company announced in a second quarter earnings report June 6, with earnings per diluted share of 56 cents. That beat the average estimate of analysts surveyed by Zacks Investment Research, which was for earnings of 50 cents per share. The Santa Paula-based Read More →
Semtech sales up 11 percent, company says in first quarter earnings report
Semtech sales increased 11 percent, the company said when it reported first quarter fiscal year 2017 earnings June 1. Semtech, a Camarillo-based supplier of analog and mixed-signal semiconductors, said revenues increased from $130 million in 2016 to $131.1 million in 2017. Net income increased from a loss of $142,000 during the same quarter in 2016 Read More →
Deckers Brands CEO retiring; earnings per share nose dive
Goleta-based Deckers Brands beat quarterly revenue estimates but still posted a loss of 73 cents per share when the company reported fourth quarter and fiscal year 2016 earnings results May 26 as unseasonably warm weather ate into profit margins. Deckers’ sales increased 11 percent during the quarter from $340.6 million in 2015 to $378.6 million Read More →
