Revenue up at Semtech, down at QAD
Banking & Finance, Earnings, Latest news, South Coast, Technology, Tri-County Economy, Tri-County Public Companies, West Ventura CountyTwo of the region’s top technology companies reported second quarter earnings on Aug. 26, with results underscoring how the Internet of Things and cloud computing are transforming established players in semiconductors and software. Camarillo-based Semtech Corp, with a market cap of slightly more than $4 billion, said sales for the second quarter were $143.7 million, Read More →
Vista Equity founder Robert Smith under tax investigation
Central Coast, Latest news, South Coast, Technology, Tri-County Economy, West Ventura CountyRobert Smith, the founder of Vista Equity Partners, which counts Mindbody and LogicMonitor in its portfolio, is facing an investigation by U.S. tax authorities over his personal offshore holdings. According to reports first published in Bloomberg, then in the Financial Times and others, Smith has come under scrutiny over tax treatment of millions of dollars Read More →
Unemployment rate drops in Tri-Counties, still in double digits
Central Coast, East Ventura County, Latest news, South Coast, Tri-County Economy, West Ventura CountyUnemployment rates in Ventura, Santa Barbara and San Luis Obispo counties continued to inch downward in July, though all three remained at historically high levels in the fourth month of the coronavirus pandemic. The combined civilian unemployment rate for the tri-county area was 10.7 percent in July, according to a Business Times analysis of data Read More →
Interlink shares rise despite earnings drop
Banking & Finance, Earnings, Latest news, Technology, Tri-County Economy, Tri-County Public Companies, West Ventura CountyInterlink Electronics shares popped 36 percent to a new 52-week high ahead of an earnings report on Aug. 17 that showed a 15 percent dip in revenue but net income that stayed barely in the black. The results come as the sensor manufacturer is preparing to move into a new headquarters in Irvine and make Read More →
Charges filed in Wolfe & Associates hacking case
Latest news, Law & Goverment, Real Estate, South Coast, Tri-County Economy, West Ventura CountyFelony charges were filed Aug. 12 against six people suspected of hacking into the computer networks of Wolfe & Associates, a Santa Barbara-based property management firm, as part of an unemployment insurance fraud scheme. The suspects—Gordon Alan Welteren, Nicole Michelle Milan, William Lee Gormley and Christina Renata Hesler of San Diego; David Zarate of Oxnard; Read More →
Montecito Bank & Trust reports big quarter due to PPP loans
Banking & Finance, Banking Industry, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public CompaniesMontecito Bank & Trust’s total net income grew more than 15 percent in the second quarter, buoyed by increases in total assets, loan growth and deposit growth, the bank announced Aug. 10. Many of the bank’s key measures grew by leaps and bounds between June 30, 2019 and June 30, 2020. Montecito Bank & Trust’s Read More →
Pandemic relief grants available for SLO businesses
Central Coast, Latest news, Small Business, Tri-County EconomyA public-private partnership in San Luis Obispo began accepting applications Aug. 10 for $260,000 in small business relief grants. The money will go to 52 local businesses, with each one receiving $5,000, according to a city news release. The application period opens at 11 a.m. on Aug. 10 and will remain open until Aug. 24. Read More →
