Bank of the Sierra reports higher loan volume but income drop
Sierra Bancorp announced a slightly-lower net income when it released its fourth quarter 2020 earnings amid high deposit growth and record growth in loans and leases. The parent of Bank of the Sierra, which is based in Porterville but has 11 branches in the Tri-Counties, announced a fourth quarter net income of $9 million, or Read More →
Community Bancorp of Santa Maria reports rising revenue and expenses
Community Bancorp of Santa Maria saw another quarter of continued growth, buoyed by federal Paycheck Protection Program loans, even as net income fell. The bank’s total income rose 4.3%, but net income fell by more than 19%, going from $2.7 million in December 2019 to $2.2 million in the same month of 2020. Net loans Read More →
Mission Produce reports earnings drop in first post-IPO filing
Revenue and net income took a hit in the fourth quarter of 2020 for Oxnard-based Mission Produce, as the company released its first earnings report on Jan. 19 since its initial public offering in October. Mission Produce reported revenue totaling $206.8 million for the quarter ended Oct. 31, which was an 11% decrease from the Read More →
Limoneira’s losses mount as pandemic depresses citrus sales
Santa Paula-based agribusiness Limoneira saw its losses increase and its revenue drop in the fourth quarter of its most recent fiscal year, as low wholesale prices and declining sales during the pandemic took their toll. Limoneira released its results Jan. 11 for the quarter and fiscal year ended Oct. 31, revealing a loss of 42 Read More →
Teledyne to buy Flir in $8B deal
Teledyne Technologies, a multinational conglomerate based in Thousand Oaks, will spend around $8 billion in cash and stock to buy Flir Systems, a thermal imaging company with a manufacturing and research and development facility in Goleta. The deal was announced early in the morning on Jan. 4, and has been approved by the boards of Read More →
More avocado consumption doesn’t add up to more profit for Calavo
Americans have been eating more avocados than ever during the pandemic, but the companies that sell them avocados aren’t necessarily profiting from the growing volume. Around 70% of U.S. households will have purchased avocados in 2020, with consumption on pace to top 6.25 billion avocados, 64% more than U.S. consumers bought in 2014, according to Read More →
AeroVironment expands into ground robotics with German acquisition
AeroVironment, an aerial drone company based in Simi Valley, reached an agreement Dec. 8 to acquire Telerob, a German robotics company, in a deal worth approximately $45.4 million in cash.
