Teledyne sales fall but earnings per share beat analyst estimates
Thousand Oaks-based industrial conglomerate Teledyne Technologies saw sales slip for the fourth consecutive quarter but still beat analyst estimates for earnings per share when it released results Feb. 4. Teledyne sales fell 3.6 percent during the fourth quarter from $622.3 million in 2014 to $600 million in 2015. Sales also fell 4 percent during the Read More →
PennyMac beats profit expectations but misses on revenue
Moorpark-based PennyMac Financial Services reported a $68.9 million profit on revenue of $187.2 million for the fourth quarter, beating Wall Street expectations on profit but missing on revenue. PennyMac Financial, which was founded by former Countrywide Financial Services executives after that company was acquired by Bank of America, reported a profit 58 cents per share Read More →
Oxnard-based CalAmp buys LoJack for $134 million
Oxnard-based CalAmp completed its hostile takeover of Canton, Mass.-based LoJack on Feb. 1 by buying LoJack for $134 million. CalAmp makes wireless devices for the vehicle and transportation industries while LoJack makes theft recovery systems for cars, trucks and construction equipment. CalAmp had discussions with LoJack for 14 months prior to December 2015 and made Read More →
Heritage Oaks Bancorp misses fourth-quarter estimates
Paso Robles-based Heritage Oaks Bancorp earnings missed analyst estimates for the fourth quarter but earnings were significantly up on the year. Heritage Oaks reported net income of $3.5 million, or 10 cents per share, for the fourth quarter. That missed analyst expectations of 11 cents per share and was down from $4.2 million net earnings, Read More →
Community West Bank hires 2 executives
Goleta-based Community West Bank has hired two new executives as the bank expands into San Luis Obispo County and maps out future growth. The bank’s parent company, Community West Bancshares, announced on Feb. 1 that it hired Brian Schwabecher as its senior vice president and regional market manager and Elizabeth Crandall as the vice president Read More →
Santa Barbara County OKs ExxonMobil’s emergency permit to truck oil
The county of Santa Barbara has approved ExxonMobil’s emergency permit to truck oil. Exxon plans to transport 425,000 barrels of oil currently sitting in two tanks at its Las Flores Canyon storage facility to destinations up to 140 miles north on Highway 101. Trucking to empty the tanks is expected to take three to six Read More →
Decron Properties buys 391 Thousand Oaks apartment units for $126.5 million
Los Angeles-based developer Decron Properties acquired a 391-unit multifamily apartment portfolio in Thousand Oaks for $126.5 million. The deal with Prometheus Real Estate Group included the 249-unit Los Robles Apartments and the 142-unit Marlowe Apartments located about a mile apart near Moorpark Road. The complexes feature swimming pools, clubhouses, fitness centers and large amounts of Read More →
