Frontier revenue dips but net losses smaller
Earnings, Latest news, Technology, Tri-County Public CompaniesFrontier Communications saw a slight dip in third quarter revenue but smaller net losses year-over year, the company announced Oct. 31. Revenue reached $2.25 billion, down slightly from the previous quarter and the third quarter of 2016. But the first nine months of the year saw a 6.5 percent increase in revenue over the same Read More →
Amgen buying out joint venture Kirin-Amgen for $780 million
Health Care & Life Science, Latest news, TechnologyAmgen, the biotech giant based in Thousand Oaks, announced that it would buy out joint venture Kirin-Amgen, which was created to develop white blood cell booster Neupogen among other projects, for $780 million. The joint venture holds intellectual property rights for Neupogen, Neulasta, Aranesp, Nplate and brodalumab. In addition to the cash deal, Amgen will Read More →
Net income grows at Montecito Bank & Trust
Banking & Finance, Banking Industry, Latest newsMontecito Bank & Trust reported net income growth of 11.52 percent year-over-year in its earnings report for the quarter ended Sept. 30, 2017. The Santa Barbara-based bank said in a news release Oct. 27 that the higher net income was driven by loan growth of 16 percent. Deposits increased 3 percent and assets increased 3.64 Read More →
3rd quarter sales take off for missile defense company
Latest newsDefense and intelligence company Raytheon, which has large operations in Goleta, reported a 4.5 percent increase in sales for the third quarter of 2017, for a net income of $572 million. The missile systems segment led the company’s growth, with a 10 percent increase in net sales to $1.95 billion, and integrated defense systems rose Read More →
MindBody creeps closer toward profitability
Latest newsMindBody’s revenues continued its double-digit growth, and net losses fell by almost half to $3.6 million for the quarter ended Sept. 30. The San Luis Obispo-based software provider for the wellness and fitness industry saw a trickle of operating profits during the quarter. Excluding stock-based compensation and amortization of certain assets, the company posted a Read More →
Deckers halts sale hunt against investors’ wishes
Latest newsFootwear manufacturer Deckers Brands will launch a $400 million share buyback program as it wrapped up a strategic business review and simultaneously reported a 26 percent increase in its second quarter net income. In an earnings conference call on Oct. 26, the Goleta-based company said that it would no longer actively pursue a sale or Read More →
Amgen product sales slip but income stays steady
East Ventura County, Health Care & Life Science, Latest news, Tri-County Economy, Tri-County Public CompaniesNet income at biotech giant Amgen stayed flat for the third quarter, despite a slight downtick in revenues to $5.8 billion, the company reported Oct. 25. Product sales saw a slight decline, including Neupogen, Epogen and its blockbuster rheumatoid arthritis drug Enbrel, which fell 6 percent, but net income stayed steady at a little more Read More →
