TECHNOLOGY
Kingston Technology Co., a Fountain Valley-based maker of memory products for computers and consumer electronics, reported a small rise in 2009 sales to $4.1 billion. The company said the gain was due to better prices for memory chips and stronger demand for computer products.
Irvine-based WebVisible Inc., an online advertising search company for small businesses, landed $20 million in a round of venture funding. The funding was led by Chicago-based Adams Street Partners LLC. Previous investors Palo Alto-based Sutter Hill Ventures and Redpoint Ventures also took part.
Irvine’s Kofax PLC, a maker of software that helps businesses cut down on paper and data entry, reported six-month sales through December of $168 million, up 8% from a year earlier. The company posted profits of about $13 million, down about 30%. The company gave a conservative outlook for the 12 months through June.
A Raymond James & Associates Inc. analyst upped his estimates for Santa Ana’s Ingram Micro Inc. on better-than-anticipated fourth-quarter results, stronger demand and improving corporate spending. Analyst Brian Alexander said he’s looking for Ingram this week to report profits of $87 million, up from a previous estimate of $82 million and ahead of analysts’ average estimate of $85 million in profits. He upped his sales outlook to $8.5 billion for the quarter.
The parent company of Irvine-based Blizzard Entertainment Inc.—Vivendi SA’s Activision Blizzard Inc.—said last week it expects yearly sales to be roughly flat for 2010. Blizzard’s growth in subscriptions to its online “World of Warcraft” games appears to have slowed in the past year. Blizzard ended 2009 with around 11.5 million “World of Warcraft” subscribers, roughly flat from a year earlier.
Aliso Viejo’s QLogic Corp. hit rival Emulex Corp. of Costa Mesa with a lawsuit accusing Emulex of false advertising, unfair competition and libel. QLogic alleged that Emulex published misleading information in a recent blog and a video that showed an egg frying on a QLogic chip. The advertisement was meant to show off the lower power usage and heat output of Emulex’s chips.
HEALTHCARE
Irvine-based Quality Systems Inc. is buying a Texas maker of software for hospitals, doctors and medical laboratories. Terms of the acquisition of Austin-based Opus Healthcare Solutions Inc. weren’t disclosed. Quality, which makes software for doctors to run their practices, said it expects the acquisition to add to its profits in the 12 months through March 2011. The company plans to combine Opus Healthcare with assets acquired last year from Laguna Hills-based Sphere Health Systems.
Irvine’s Allergan Inc. bought the cosmetic surgery business of Medford, Mass.-based Serica Technologies Inc. for an undisclosed amount. Serica makes biodegradable, silk mesh scaffolds that help regenerate human tissue and are used in breast augmentation and reconstructive surgery. Allergan makes breast implants.
Irvine-based eye drug maker Ista Pharmaceuticals Inc. projected its first profitable year in 2010 with net earnings of at least $1 million. Excluding onetime charges, Ista forecast yearly operating income of $8 million to $10 million, versus a projected loss of about $11 million for 2009. Analysts on average expect a 2010 profit before charges of $7.8 million. Ista said it projects sales of $147 million to $165 million for 2010, up about 40% from what’s expected for 2009.
Beckman Coulter Inc., a Brea maker of medical testing products, reported fourth-quarter results that surpassed Wall Street expectations and reaffirmed its 2010 profit outlook. Beckman said its profit before special items came in at $91.8 million, above analysts’ projection of $89.8 million. Fourth-quarter revenue rose 22% to $989.6 million, with $120.2 million of that from Beckman’s $800 million buy last year of Olympus Corp.’s medical diagnostic business. Wall Street was looking for $963.2 million.
FINANCE
Irvine-based automotive marketing company Autobytel Inc. no longer faces the prospect of delisting from Nasdaq because of its low stock price. The company said last week that it has regained compliance with Nasdaq by trading for $1 or greater for at least 10 consecutive days.
Walt Disney Co.’s theme parks in Anaheim and elsewhere saw attendance rise 15% in the three months through Jan. 2 from a year earlier. The company doesn’t break out attendance by park but said the Anaheim parks fared better than the company’s Florida parks, which saw a 1% drop.
An auction sale of The Shops at Anaheim GardenWalk is set for March 9 in Placentia after developers of the outdoor mall next to Disneyland defaulted on a $210 million loan and failed to catch up on payments. The mall is set to be sold “as is” at a projected $19 million—the unpaid balance of the initial loan plus costs. The developer and manager of GardenWalk blamed lawsuits with tenants, attempts to modify the loan and a struggling economy.
