Velocity reports earnings growth, strong loan demand
Velocity Financial saw its net income spike when it reported its first quarter financial earnings on May 6. The Westlake Village-based real estate financial company recorded a net income of $3.4 million and core income of $6.72 million, or 10 cents and 20 cents per diluted share. In 2020, the company had a net income Read More →
PennyMac earnings up as mortgage boom continues
PennyMac Financial Services reported a higher net income and revenue in the first quarter, as well as a cash dividend, when it announced its latest earnings on May 6. The Westlake Village-based mortgage lender and loan servicer recorded net income of $376.9 million, or $5.15 per share, on revenue of $944.7 million. For the first Read More →
MIT to drop affiliation with Central Coast Enterprise Forum
The Massachusetts Institute of Technology Enterprise Forum Global will be closing its program effective June 30 and is asking all of its affiliated chapters, including the Central Coast chapter, to discontinue all association with the brand. The news came in an April 30 email to Enterprise Forum chapters from the CEO of MIT Technology Review, Read More →
Arcutis shares down after earnings report
Westlake Village-based Arcutis Biotherapeutics suffered a net loss in the first quarter of fiscal year 2021, but continues to hold a strong financial position with $446.5 million in assets. According to earnings released May 4, Arcutis lost $36 million in the first quarter, or 76 cents per share, compared to a loss of $28 million, Read More →
Atara beats estimates with loss in Q1
Atara Biotherapeutics had a net loss of $78.2 million in the first quarter of fiscal year 2021, slightly higher compared than same quarter a year earlier, when the company had a loss of $73.5 million. Despite this, Atara, an immunotherapy biotech company based in South San Francisco with some of its major operations in Thousand Read More →
Fienup: A long road to get economy out of ‘crisis mode’
Ventura County’s economy was in a rougher place than previously understood when the pandemic started, and rebuilding it in a way that benefits everyone is going to take a lot of careful work. That was the message from Matthew Fienup, the executive director of the Center for Economic Research and Forecasting at California Lutheran University, Read More →
LTC Properties reports income drop
LTC Properties saw its net income drop almost 80% in a year as it missed estimates and saw decreased rental income. The Westlake Village-based real estate investment trust, which specializes in health care and senior living properties, reported $13.6 million in net income, or 35 cents per diluted share, for the first quarter of 2021. Read More →
