Sonos reports loss for quarter but record annual revenue
Santa Barbara home audio company Sonos beat analysts’ expectations with its fourth-quarter earnings and also delivered record revenues for its 2021 fiscal year, but supply chain issues could spoil the first half of 2022, the company said. Sonos reported a net loss of $8.7 million in the quarter ended Sept. 30, according to results released Read More →
Gallegly sues CLU over public service center
UPDATE, 2:48 p.m., 11/16/2021: This article was revised to include comments from a California Lutheran spokesperson. Former U.S. Rep. Elton Gallegly has filed a lawsuit against California Lutheran University in Thousand Oaks alleging problems with the funding and establishment of an on-campus public service center named after him. The complaint, filed Nov. 15 in Ventura Read More →
Economist: Return of international travelers could strain hospitality industry
Reopening international travel to the United States might create some problems in Santa Barbara in wake of employment disruptions triggered by the pandemic, especially in the restaurant industry, economic Mark Schniepp said at a Nov. 11 economic forecast event. On Nov. 8, the U.S. lifted travel restrictions from specific countries and vaccinated international visitors entered Read More →
Economist in SLO: ‘odd recovery,’ but economy ‘on fire’
History shows that natural disasters have had “little” long-term economic impact, according Chris Thornberg, an economist who spoke at the annual Central Coast Economic Forecast on Nov. 5 in San Luis Obispo. In spring 2020, the United States economy abruptly came to a sudden halt as public health officials issued restrictions, such as stay-at-home orders Read More →
Inogen beats earnings expectations, but supply issues persist
Goleta-based Inogen was able to deliver another earnings beat on Nov. 4 behind positive financial results for the third quarter of fiscal year 2021, but supply chain constraints continue to hinder the company’s potential. Inogen, a medical device company that manufactures and supplies portable oxygen containers, saw its net income and revenue increase year-over-year for Read More →
Amgen reports revenue growth in Q3 but lowers full-year guidance
Sales increases across Amgen’s drug lineup drove increases in revenue and non-GAAP earnings at the Thousand Oaks biotech company during the third quarter, according to its Nov. 2 earnings release, but pandemic issues persist, and the company lowered its revenue guidance for the year. Amgen, one of the largest biotech companies in the world, reported Read More →
Santa Barbara Records launches with artist-first approach
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