First California rejects PacWest takeover bid
Westlake Village-based First California Financial Group has spurned an unsolicited takeover offer from Los Angeles-based PacWest Bancorp. First California, a $2 billion bank whose profits dropped drastically in the first quarter, is under pressure from three major shareholders to sell itself and has hired an investment banking firm to help evaluate its options. The company Read More →
CalAmp signs $25M contract
Oxnard-based wireless products maker CalAmp Corp. has signed a $25 million contract with Navman Wireless for fleet-tracking products. CalAmp said May 7 that under the five-year deal, it has purchased several products and technologies from Navman and set up a research and development center in New Zealand that is staffed by 14 employees brought over Read More →
LTC earnings jump 122%
[wikichart align=”right” ticker=”NYSE:LTC” showannotations=”true” livequote=”true” startdate=”08-11-2011″ enddate=”08-05-2012″ width=”300″ height=”245″] Real estate investment trust LTC Properties reported $12 million in first-quarter profits, a 122 percent increase over the $5.4 million it earned a year ago. Per diluted share, the Westlake Village-based company earned 40 cents in the most recent quarter, compared to 20 cents in the Read More →
NiMin Energy taps out two years post-IPO
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Power-One predicts European solar revival in Q2
Signs of a resurgence in its European market prompted Power-One to project better-than-expected second-quarter profits on May 3 even as it said that first-quarter income dropped 84.1 percent to $4.9 million, or 3 cents per diluted share. Net sales were up 8.3 percent to $225.8 million. The company’s renewable energy division contributed $149 million to Read More →
ValueClick shares drop 22% on Q2 outlook
Shares of online advertising firm ValueClick plunged 22.2 percent after the Westlake Village-based firm projected lower-than-expected second-quarter revenues of between $155 million and $160 million. One analyst told Bloomberg News that the company is reducing traffic in its owned-and-operated website segment. ValueClick reported first-quarter profits of $21.6 million – 27.8 percent above the same quarter Read More →
