K-Swiss profits fall as sales down 32%
Athletic shoemaker K-Swiss stumbled into another large loss in the second quarter as its worldwide sales plummeted by almost one-third. The Westlake Village-based company reported an $11.6 million loss, compared to a loss of $20 million in the same quarter a year earlier. Worldwide revenue fell 31.5 percent to $44.8 million during the quarter. U.S. Read More →
PacWest closes American Perspective deal
PacWest Bancorp has wrapped up its $58.1 million acquisition of San Luis Obispo-based American Perspective Bank. The deal adds two branches, a loan production office and about $271 million in assets to Los Angeles-based PacWest’s portfolio and expands its reach up the Central Coast. The deal, first announced in April, trumped an earlier offer for Read More →
Community West lost $591K in Q2
Shares of Community West Bancshares soared 7.7 percent even as the Goleta-based bank reported a $591,000 second-quarter loss. The parent company of Community West Bank’s latest loss swings away from an $819,000 profit in the first quarter. Including $268,000 in dividends and accretion on preferred stock, Community West’s second-quarter net loss applicable to common stockholders Read More →
Clean Diesel wins Honda contract
Ventura-based Clean Diesel Technologies said July 30 that it won a contract to supply catalysts for four- and six-cylinder Honda Accords, some of the best-selling models in North America. The company, known as Catalytic Solutions before a merger in 2010, makes catalytic converters in its Oxnard factory and has about 180 employees. Its converters clean Read More →
Teledyne profits, sales up
Thousand Oaks-based Teledyne Technologies, a defense and industrial conglomerate, reported second-quarter profits of $39.5 million, or $1.06 a share, on July 26, compared with $38.7 million, or $1.04, last year. The company also said it took in $518.5 million in sales compared with $502.9 million for the second quarter of 2011. Sales increased 3.1 percent Read More →
