Montecito Bank remains “well-capitalized” after the first quarter
Montecito Bank & Trust reported a 30% increase in net income for the first quarter of 2023 on June 6, even despite a drop in total deposits. Montecito Bank & Trust generated $4.8 million in the first quarter while assets closed at $2.1 billion. According to the bank, it remains well-capitalized as its total risk-based Read More →
Limoneira posts higher revenue in second quarter
Santa Paula-based Limoneira announced its results for the second quarter after the markets closed June 6, highlighting a rise in revenue as well as a lower net debt position. Limoneira, a grower of lemons and avocados, announced revenue worth $48.1 million compared to $46.8 million in the same quarter a year ago. The company suffered Read More →
Deckers delivers solid earnings beat to close out fiscal year
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Sonos slashes full-year guidance behind softening demand
Shares of Santa Barbara-based Sonos have dipped more than 30% since the company’s second-quarter earnings were announced on May 10, revealing that the company would be slashing its fiscal projections for the full year. For the quarter ended March 31, Sonos generated revenue worth $304.2 million, down 22.4% year-over-year while gross margin decreased 150 basis Read More →
Trade Desk starts the new year strong, beats first-quarter expectations
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American Riviera reports smaller net income, adds hundreds of new depositors
American Riviera Bank, based in Santa Barbara, reported a net income of $3 million for the quarter ending on March 31, representing a decrease of 6% over the same period last year. Earnings per share for the first quarter totaled 52 cents per share, compared with 55 cents per share this time last year, according Read More →
Amgen’s revenue dips in the first quarter, still beats earnings estimates
Thousand Oaks-based Amgen delivered a sound earnings beat in the first quarter of 2023, the company announced after the markets closed on April 27. Amgen, one of the largest biotechnology companies in the world, generated net income worth $2.8 billion in the first quarter or $5.28 earnings per share. This nearly doubled last year’s first-quarter Read More →
