Orange County Business Journal


Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Cancer Device Company Gets $10M

Aliso Viejo-based medical device maker Cianna Medical Inc. got a $10 million financing deal from GE Capital Health Finance Services.

By Jane Yu May 20, 2014 8:51 a.m.   Share
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Western Digital’s June Quarter Beats Wall Street

Irvine-based storage products maker Western Digital Corp. on Wednesday reported revenue and adjusted profits in the June quarter that beat Wall Street expectations.

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CalFirst Bank Posts Flat Full-Year Profit

Irvine-based California First National Bancorp reported its fiscal year-end results, including about $7.3 million in full-year profit, about the same as a year earlier.

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Profit, Loans Up for Cal Republic

California Republic Bancorp reported $3.3 million in second-quarter profit, a 14% growth from the same period last year.

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Fisker’s Bankruptcy Plan Approved

The Chapter 11 plan for Costa Mesa-based Fisker Automotive Inc. got approval from the United States Bankruptcy Court for the District of Delaware.

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Edwards’ Profit Gain Fueled by Settlement

Irvine-based Edwards Lifesciences Corp. today reported second-quarter results that surpassed Wall Street’s expectations.

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Allergan Raises Bar on Raiders With Cost Cuts, Pledge on Profits

Allergan Inc.’s promise of cost cuts and higher profits might have put the company out of its hostile suitors’ reach.

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Opus Posts Higher Loans, Lower Profit for Q2

Irvine-based Opus Bank posted $10.3 million in profit in the second quarter, down about 45% from the same period last year.

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NB Investor in $3M Deal for App Developer

Newport Beach-based private equity investor Kodiak Capital Group LLC has made a $3 million commitment to fund Eventure Interactive Inc. in Costa Mesa, a developer of social communications-oriented mobile applications.

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Pacific Premier Grows Loans, Income in Q2

Irvine-based Pacific Premier Bancorp Inc. reported $4.6 million in net income for the second quarter compared with a loss of $249,000 a year earlier.

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Ingram Beats Revenue, Profit Targets in Q2

Santa Ana-based Ingram Micro Inc. on Thursday reported second-quarter revenue and adjusted profits that beat Wall Street expectations.

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Quality Systems Misses on Profit, Beats on Revenues

Irvine-based Quality Systems Inc. today posted mixed financial results for the three months ended June 30.

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Newport Corp. Buys Israeli Laser Maker

Irvine-based Newport Corp., which makes lasers and related equipment, has acquired an Israeli company that specializes in fiber lasers.

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Microsemi Buys Irish Company

Aliso Viejo-based chipmaker Microsemi Corp. has acquired an Irish company that specializes in chip design geared for large-scale Ethernet operations and testing.

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Broadcom Shares Up on Q2 Report

Irvine-based chipmaker Broadcom Corp. said it earned an adjusted net income of $406 million or $0.65 per share in the second quarter, excluding one-time charges.

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Job Cuts at Allergan HQ Could be Offset

Allergan Inc. said it will close three of its facilities around the U.S. and lay off about 1,500 employees over the next several months as part of a restructuring plan.

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Allergan to Cut 1,500 Jobs

Allergan Inc. said it will cut about 1,500 jobs over the remainder of this year as part of a restructuring plan to save about $475 million next year.

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Brea Natural Foods Supplier Acquired

Brea-based natural food products distributor Nature’s Best has agreed to be acquired by KeHE Distributors LLC in Naperville, Ill.

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Real Mex CEO Departs

Cypress-based Real Mex Restaurants Inc. President and Chief Executive Charly Robinson has left the company according to reports.

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Vans’ Revenue Up 21%

Vans Inc.’s revenue rose 21%, its parent VF Corp. reported in its second quarter financials.

Volcom’s New Vision

Paris-Based Parent Prods Change at OC Label

Volcom Inc. has outgrown its rebellious stage.

Ackman Must Beat Clock to Best Pyott

HEALTHCARE: Allergan defenses run deep; CEO not targeted in board ouster

Time, it seems, is on Allergan Inc.’s side. That much started to come clear last week when activist investor Bill Ackman set off a ticking clock in the background of his hostile takeover bid for the Irvine-based drug maker.

Toba Rolls Ahead With String of Exits, IPO

FINANCE: Smith’s VC firm backs up talk of fast start, OC investments

Toba Capital, the Irvine-based venture capital firm launched by former Quest Software Inc. Chief Executive Vinny Smith, is on a roll with three recent exits and an initial public offering topping $100 million apiece.

Corinthian Programs Could Command $140M

EDUCATION: Wells Fargo, reports cite value, $101M debt

Corinthian Colleges Inc.’s selloff of schools and programs and its closing of campuses could bring in as much as $140 million.

Menlo Sheds Irvine Office With $36 Million Sale

REAL ESTATE: Investor paid $20M for offices in 2010

A two-building office property in Irvine a few blocks from John Wayne Airport has traded hands for $36 million.

El Pollo Loco Chain Sets IPO Terms

Costa Mesa-based El Pollo Loco Holdings Inc. set the terms for its planned initial public offering.