Procore posts loss in first post-IPO quarter
In its first earnings report since going public, Procore Technologies, a Carpinteria-based software company for the construction industry, delivered record revenue growth, but rising operating costs hurt overall earnings. Revenue rose 27.7% for the quarter ended June 30, the company reported on Aug. 5. Procore generated $122.8 million, up from $96.5 million in the same Read More →
Inogen shares plummet after news of supply chain problems
Shares of the Goleta-based medical device company Inogen dropped by 27% on Aug. 5, the day after the company released its second quarter 2021 earnings. Though the maker of portable oxygen concentrators saw big increases in both revenue and earnings, uncertainty brought on by the semiconductor chip shortage led to a huge selloff of Inogen Read More →
Inogen sees revenue growth, but stock declines after report
Inogen, a Goleta-based medical device company specializing in portable oxygen concentrators, is starting to see its core business come back from the pandemic, and the company highlighted double-digit year-over-year growth in both earnings and revenue in its second quarter financial results, released Aug. 4. The company more than doubled its net income for the quarter Read More →
Transphorm closes deal in Japan
Goleta-based Transphorm announced the close of its acquisition of a Japanese-based water fabrication company on Aug. 2, alongside its new joint venture capital partner, JCP Capital. The facility, located in Aizu Wakamatsu, Japan, is considered to be the premier wafer manufacturing fab in the world for high-voltage gallium nitride power semiconductors, according to a press Read More →
Nordstrom building in downtown Santa Barbara nearing sale; buyer plans offices on upper floors
The Nordstrom building in downtown Santa Barbara is nearing a sale, and the new owner is looking to turn the upper floors into office space, according to a report released by Hayes Commercial Group on July 30. The building is at the northern end of Paseo Nuevo. Most of the outdoor mall is owned by Read More →
Community West Bank reports increase in quarterly earnings
In another sign of strength for the regional banking industry, Goleta-based Community West Bancshares reported a 17.5% increase in net income for the second quarter, to 41 cents per share. The parent of Community West Bank said on Aug. 2 that earnings for the most recent quarter were $3.6 million, versus $3 million for the Read More →
UCSB moves ahead with Munger Hall mega-dorm
UC Santa Barbara has released a notice of preparation for a new student housing development, Munger Hall, which was previously approved as part of the university’s Long Range Development Plan. Munger Hall, when built, would increase the university’s on-campus housing by 50%, with single-occupancy rooms, and will allow the university to eliminate triple housing in Read More →
