El Encanto owner reports $8.3M loss
Orient-Express Hotels, the Bermuda-based luxury travel firm that owns and operates the newly-reopened El Encanto hotel in Santa Barbara, reported an $8.3 million loss on revenue of $103.2 million for the first quarter. That’s a slight improvement over a $14.4 million loss during the same time period last year, and officials said in the May Read More →
PennyMac prices IPO at $17 to $19
Moorpark-based PennyMac Financial Services has priced its initial public offering of stock at $17 to $19 per share, indicating plans to raise as much as $211.1 million in its launch on the New York Stock Exchange. PennyMac, headed by former Countrywide Financial Corp. President Stanford Kurland, employs more than 600 people in Moorpark and more Read More →
K-Swiss sale to Korean firm closes
E.Land World Limited of Korea closed its $170 million buyout of Westlake Village-based athletic shoe company K-Swiss on April 30, after shareholders of the footwear company overwhelmingly approved the merger. Under the terms of the sale, K-Swiss shareholders will receive $4.75 per share in cash, marking the high point of the company’s 52-week stock price Read More →
Deckers shares plummet as Q1 earnings drop 87%
Shares of Goleta-based Deckers Outdoor Corp. plunged 8.6 percent on Friday as the Ugg boot parent reported first-quarter earnings were a fraction of what they had been a year earlier. Deckers said first-quarter profits were $1 million, or 3 cents per share, compared to $8 million, or 20 cents per share, a year earlier. The Read More →
Heritage Oaks’ Q1 profits jump as bank prepares to pay off TARP
Heritage Oaks Bancorp reported a $3.7 million first-quarter profit, up 131 percent over a year earlier, and said it is gearing up to repay $25 million in bailout funds it took at the height of the recession. The repayment comes with the announcement that two sets of banking regulators have lifted an order over the Read More →
