Interlink shares rise despite earnings drop
Interlink Electronics shares popped 36 percent to a new 52-week high ahead of an earnings report on Aug. 17 that showed a 15 percent dip in revenue but net income that stayed barely in the black. The results come as the sensor manufacturer is preparing to move into a new headquarters in Irvine and make Read More →
Montecito Bank & Trust reports big quarter due to PPP loans
Montecito Bank & Trust’s total net income grew more than 15 percent in the second quarter, buoyed by increases in total assets, loan growth and deposit growth, the bank announced Aug. 10. Many of the bank’s key measures grew by leaps and bounds between June 30, 2019 and June 30, 2020. Montecito Bank & Trust’s Read More →
Pandemic has silver lining for Trade Desk
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PennyMac’s quarter to remember
With mortgage rates at record lows and the homebuying and refinancing markets booming, PennyMac Financial Services, a Westlake Village mortgage lender, and its real estate investment trust both reported strong financial results on Aug. 6. PennyMac Financial Services announced a net income of $352.7 million for the second quarter of 2020, or $4.39 per share, Read More →
Inogen revenue falls, but Q2 earnings beat analyst estimates
The COVID-19 pandemic continued to cut into Inogen’s revenue, as new physician referrals and patient mobility declined during a quarter usually marked by increased patient travel and demand. Revenue fell nearly 30 percent in the second quarter to $71.7 million, missing average analyst estimates, and net income of $2.7 million was down from $9.9 million Read More →
Amgen teams up with competitors in COVID treatment trial
Amgen has joined two of its competitors in launching a trial for drugs to treat patients with COVID-19. Together with Chicago-based AbbVie and Japanese drugmaker Takeda Pharmaceutical, the Thousand Oaks biotech giant said Aug. 3 it had enrolled the first patients into a clinical trial for the anti-inflammatory drugs Otezla, cenicriviroc and Firazyr. Otezla is Read More →
Deckers beats expectations with rising sales, shrinking losses in second quarter
Goleta-based Deckers Brands, the parent company of Ugg and Teva, saw its net sales increase in the second quarter as the footwear company continued to beat expectations and trim expenses. Sales increased 2.3 percent, to $283.2 million, compared to $276.8 million at the same point in 2019. The company still took a loss, but the Read More →
