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Interlink shares drop after report of first-quarter losses

By   /  Thursday, May 6th, 2021  /  Banking & Finance, Earnings, Latest news, Technology, Tri-County Economy, Tri-County Public Companies, West Ventura County  /  No Comments

Interlink Electronics, an Irvine-based sensor manufacturer with its primary research and development facility in Camarillo, saw its revenue dip and its net loss increase when it released its earnings for the first quarter of 2021. According to the company’s May 6 earnings release, Interlink generated revenue of $1.56 million in the first quarter of 2021, Read More →

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Velocity reports earnings growth, strong loan demand

By   /  Thursday, May 6th, 2021  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public Companies  /  No Comments

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 →

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Salem Media Group back in the black for first quarter

By   /  Thursday, May 6th, 2021  /  Banking & Finance, Earnings, Latest news, Tri-County Economy, Tri-County Public Companies, West Ventura County  /  No Comments

Salem Media Group announced growing revenue, declining costs and a reversal of last year’s losses when it released its first quarter financial earnings on May 6. The Irving, Texas-based conservative media company, which retains significant operations at its former headquarters in Camarillo, had $300,000 in net income for the quarter, or 1 cent per diluted Read More →

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PennyMac earnings up as mortgage boom continues

By   /  Thursday, May 6th, 2021  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public Companies  /  No Comments

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 →

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Montecito Bank & Trust tops $2B in assets

By   /  Thursday, May 6th, 2021  /  Banking & Finance, Banking Industry, Latest news, South Coast, Tri-County Economy  /  No Comments

Montecito Bank & Trust’s assets grew by almost half a billion dollars in the past year, with strong deposit and loan growth, the bank said in its May 6 first-quarter earnings release. The Santa Barbara-based bank is the largest financial institution based in the tri-county region. Its assets topped $2 billion at the end of Read More →

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Inogen reports big drop in losses in Q1

By   /  Tuesday, May 4th, 2021  /  Banking & Finance, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public Companies  /  No Comments

Inogen, a medical device company specializing in portable oxygen concentrators, saw a slight dip in revenue in the first quarter of 2021, but shrinking losses and continued growth in its new focus area of device rentals. The Goleta company reported its first quarter earnings after the markets closed May 4, and highlighted revenue for the Read More →

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Arcutis shares down after earnings report

By   /  Tuesday, May 4th, 2021  /  Banking & Finance, Biotech, Earnings, East Ventura County, Latest news, Tri-County Economy, Tri-County Public Companies  /  No Comments

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 →

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