Orange County Business Journal

FINANCE

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

San Clemente-based Glaukos Corp. promoted Chris Calcaterra as chief operating officer, effective immediately.

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Edwards Up in Q4

Edwards Lifesciences Corp. in Irvine reported fourth-quarter earnings of $767.7 million, up 14.4% year-over-year. U.S. and international sales were $421.5 million and $346.2 million, respectively.

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Razer Buys Phone Maker

Irvine-based video game products maker Razer Inc. has acquired the majority of assets of a San Francisco company that developed a mobile phone that offers unlimited cloud-storage capacity.

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Ad Testing Firm Sold

Ezoic Inc. in Carlsbad bought OC-based advertising technology firm AmpedSense.

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Nekter Expands to 3 New States

Nekter Juice Bar Inc. in Santa Ana has signed multi-unit franchise agreements to bring the food-and-smoothie chain into Utah, Washington and Florida—all new states for the chain.

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Boot Barn Misses on Revenue

Boot Barn Holdings Inc. reported mixed results for its December quarter, meeting Wall Street expectations on earnings but delivering below forecasts on revenue.

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Emerald Buys Home Tech Show

Emerald Expositions LLC in San Juan Capistrano acquired the CEDIA trade show from the Custom Electronics Design & Installation Association in Indianapolis, Ind., on undisclosed terms.

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Microsemi Sales Hit Marks

Aliso Viejo-based chipmaker Microsemi Corp. reported revenue in the December quarter in line with Wall Street expectations, and an adjusted profit that beat estimates.

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Five CFOs Recognized

Executives were honored in five categories Wednesday night at the Orange County Business Journal CFO of the Year awards, which drew a crowd of about 600 to the Hotel Irvine.

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Retailer to Cut 148 Jobs

Irvine-based Wet Seal notified the state Employment Development Department that it plans to lay off 148 local workers by March 21. It listed a permanent closure as the reason.

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UCI Starts Graduate Finance Program

University of California-Irvine’s Paul Merage School of Business announced the creation of a master of finance program in response to research showing high demand from recruiters and students.

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Ad Tech Firm Buys Competitor

Viant Technology LLC in Irvine agreed to buy Waltham, Mass.-based Adelphic on undisclosed terms.

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Healthcare REIT Gets New Exec

Irvine-based senior housing real estate investment trust HCP Inc. named Peter Scott executive vice president and chief financial officer.

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Banc of California CEO Resigns

Irvine-based Banc of California Inc. announced Chairman and Chief Executive Steven Sugarman has resigned.

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PacLife Shedding Jobs

Newport Beach-based Pacific Life Insurance Co. plans to lay off about 140 in March.

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Unemployment Down, Jobs Too

Orange County’s unemployment rate fell to 3.5% in December from a revised 3.7% in November despite a net loss of jobs month-over-month.

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Reports: Wet Seal Exploring Sale

Wet Seal LLC is exploring liquidation or a sale, according to news reports.

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Ex-SEC Chair Joins Wealth Advisory

Former Orange County Congressman and Securities and Exchange Commission Chairman Chris Cox joined the board of Leawood, Kan.-based Creative Planning Inc. as director of regulatory governance.

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Healthcare Data Firm in $34M Buy

Auxilio Inc. in Mission Viejo bought CynergisTek in Austin, Texas for up to $34.3 million—$26.8 million upfront and up to $7.5 million in milestone payments over the next five years.

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Building Materials Firm Files for IPO

Foundation Building Materials Inc., a Tustin-based distributor of wallboard and suspended ceiling systems, among other items, has filed for an initial public offering.

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Oakley Parent Sets $49B Merger

Oakley Inc.’s Italy-based parent, Luxottica Group SPA, plans to combine operations with Essilor International S.A. in France, pending regulatory and shareholder approval.

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Carrick Invests in Virginia

Carrick Capital Partners in Newport Beach invested $22 million in Perfect Sense Inc. in Reston, Va.

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New Operator for GG Knitting Mill

Broncs Inc. in Compton has reached an initial deal with American Apparel LLC to take over the lease for its textile facility in Garden Grove, according to news reports.

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Irvine First in Fiscal Strength

The City of Irvine earned top marks from the Fiscal Times for fiscal strength among U.S. cities.

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Anaheim Landscaper Acquired

Marina Landscape Maintenance Inc. in Anaheim was bought by BrightView Landscapes LLC in Plymouth Meeting, Pa., on undisclosed terms on Jan. 1.