Compiled by Mike Mason
Irvine-based Broadcom Corp. can’t use workers hired from Milpitas-based competitor LSI Logic Corp. on projects where they could use information from their old jobs, a Colorado judge ruled. The ruling, which is temporary pending a trial, came as part of LSI’s legal fight protesting the hirings, claiming Broadcom brought the workers on to gain a competitive advantage … Irvine-based I/O Magic Corp. applied to trade on Nasdaq’s Small Cap Market. The computer and electronics seller trades on the low-profile over the counter bulletin board Videogame maker Blizzard Entertainment Corp. plans to boost the size of its Irvine headquarters. Blizzard officials are set to consolidate the company’s Northern California personal computer games unit with its Irvine studio, which primarily focuses on games for video game consoles such as the Sony Playstation. Blizzard’s studio in San Mateo has 50 workers. Blizzard said it would move all workers who wanted to come south … Irvine-based Gateway Inc. said it plans to file its second-quarter results on Aug. 15. The computer maker has delayed its quarterly filing as it decides how to account for a $150 million settlement it won from Microsoft Corp. Sales at Irvine-based Quest Software Inc. rose 16% to $107.1 million, versus a year earlier. The database software maker’s operating income more than tripled to $16.4 million. The income gain was aided in part by a $12 million increase in services revenue and the absence of a litigation charge, which hit the company last year.
Lake Forest-based Beech Street Corp. said that it agreed to be bought for $165 million by Concentra Operating Corp. of Addison, Texas. Beech Street, a preferred provider organization health plan operator, had 12-month revenue of about $70 million through June. Concentra expects the deal to be completed later this year, subject to regulatory approval Irvine-based automatic heart defibrillator maker Cardiac Science Inc. set an Aug. 31 date for shareholders to vote on the proposed combination of Cardiac Science and Bothell, Wash.-based Quinton Cardiology Systems Inc. The vote is set to take place at Newport Beach law firm Stradling, Yocca, Carlson & Rauth Shares of Orange-based Sybron Dental Specialties Inc. jumped after the company reported better-than-expected quarterly results that beat Wall Street estimates. Sybron posted a profit of $20.7 million in the quarter ended June 30, up 25% from a year earlier. The dental products maker’s quarterly sales were $165.2 million, 13.5% higher than a year ago.
Irvine-based homebuilder Standard Pacific Corp. said it plans to sell $350 million in company-backed bonds. The company said the funds will be used to pay off $125 million in outstanding debt due in 2010. Other uses could be for acquisitions, the company said. Most of Standard Pacific’s growth beyond California in recent years has been the result of acquisitions.
Costa Mesa-based Commerce Energy Group Inc. named Steven S. Boss chief executive. Boss replaces interim chief Peter Weigand, the company’s president. Commerce Energy provides electricity and natural gas. Boss has been practicing law in the past two years. He represented several energy-related companies in his practice.
Irvine-based subprime lender New Century Financial Corp.’s earnings before taxes slumped 42% to $93 million in the second quarter. The company said it is making less money selling loans because of competition and market conditions among investors. New Century projected its 2005 profit would be lower than its prior guidance. It reaffirmed its previous dividend forecast.
Fullerton-based ThalesRaytheonSystems Co. has landed a $130 million contract under a previously won Army deal. The latest award brings the company’s total value under the contract to more than $220 million. Under the deal, ThalesRaytheonSystems will provide spare parts for the Firefinder radars Orange County automakers posted mostly solid sales gains in July. Fountain Valley-based Hyundai Motor America said its U.S. sales rose 11% to 44,431 in July. Irvine-based Kia Motors America posted a 10.2% increase in July auto sales to 26,052 autos, up from 23,637 a year earlier. Irvine’s Mazda North American Operations sold 24,820 autos in July, up 9.7%. Brea-based American Suzuki Motor Corp. said its July sales were up 14% to 7,125 autos in the month. Laggards included Cypress-based Mitsibushi Motors North America Inc., which sold 10,376 vehicles in July, down 7.3% from the year-ago period. Volvo Cars of North America LLC, a unit of Ford Motor Co.’s Irvine-based Premiere Automotive Group, saw its July sales drop 6.3% to 11,511 Good Guys Inc. said it plans to close its store in Orange as part of its 16-store closings in the West On the retail front, Foothill Ranch-based Wet Seal Inc. continued its turnaround with a 51% rise in July sales at stores open at least a year, while Anaheim-based Pacific Sunwear of California Inc. said it posted a 4% gain in same-store sales for the month … Aliso Viejo-based RemedyTemp Inc. said that industry softness and its trimming of low-profit contracts hit revenue in the past quarter. Revenue at the temporary staffing company dipped 5.4% to $122.3 million in the quarter ended July 3, compared to a year earlier. RemedyTemp said it was expecting a 5% decline. The company’s net income narrowed 8% to $1.4 million in the period.
