Compiled by Mike Mason
Yorba Linda-based NetGuru Inc. said its stock would be delisted from Nasdaq unless it gets its price above $1 a share for 10 days in a row before April 3. Shares of the technology consulting company were trading at 80 cents last week Anaheim-based DDi Corp. said it received a delisting notice from the Nasdaq stock exchange. DDi must get its shares above $1 for 10 consecutive days before April 5, or be dropped from the exchange Tustin-based MTI Technology Inc. said weak orders in Germany, France and some parts of the U.S. would lead to an operating loss of $2.5 million to $3.5 million in the quarter ended Oct. 1. The maker of data storage gear expects sales in the period to be $30 million to $33 million, about the same as a year ago, but down some 20% from the previous quarter.
Plymouth, Minn.-based ev3 Inc. plans to buy the 30% of Irvine-based Micro Therapeutics Inc. it doesn’t own for about $110 million. Micro Therapeutics makes devices to treat blood vessel diseases … Santa Ana-based Advanced Medical Optics Inc. said it planned to stop making its non-core cataract and eye care products by the end of the year. The company plans to focus on its line of implantable contact lenses and lasers used in eye surgery. The move will lower Advanced Medical’s profit for 2005 but keep its 2006 earnings forecast steady Alliance Imaging Inc., an Anaheim-based provider of medical imaging services, said it expects to report revenue of $106 million for the quarter, down from its previous forecast of $107 million to $110 million. The company said its business was affected by greater-than-expected softness in scanning revenue, disruption of operations by hurricanes Katrina and Rita, as well as rising fuel and transportation costs. Meanwhile, Alliance said it bought PET Scans of America Corp. for $44 million.
The Athens Group, which owns the Montage Resort & Spa in Laguna Beach, nixed plans to build an 18-hole golf course on 300 acres in Aliso Creek. The Montage owners acquired a nine-hole course, restaurant and inn at the site and is set to unveil new redevelopment plans at a meeting this week Loan production by Irvine’s ECC Capital Corp. rose 62% in the third quarter to $4.4 billion versus a year earlier. Volume was up 40% from the second quarter’s total of $3.2 billion. The company’s shares fell 5% to $2.56 Impac Mortgage Holdings Inc., a mortgage investor that has seen its stock cut in half since June, said it plans to buy back 5 million of its shares.
The Transportation Corridor Agencies proposed a $1.2 billion bailout of the struggling San Joaquin Hills (73) Toll Road. The toll road is on track to default on some $1.9 billion in loans. According to the proposal, bondholders would agree to not challenge construction of the Foothill South toll road in return for the loan and payment package The Great Park Board put off until next year choosing a lead designer for the redevelopment of the former El Toro Marine base. The board wants to visit Spain, New York and San Francisco before making a decision. Meanwhile, the Great Park’s engineering manager warned that costs to build the park would be higher than initially projected because of higher prices for construction and materials Passenger traffic at John Wayne Airport grew 6.3% to 765,708 in September, versus a year earlier. Total takeoffs and landings rose 6.7% to 30,316.
Los Angeles-based Leonard Green & Partners closed its buy of Irvine-based Claim Jumper Enterprises Inc. from founder Craig Nickoloff. The sale was for a reported $200 million to $250 million Portland, Ore.-based Precision Castparts Corp. said it plans to buy Irvine-based Shur-Lok Corp. for $110 million. The deal is expected to close in the third quarter Irvine-based Gardenburger Inc., which three months ago said it was up for sale, has filed for bankruptcy protection and plans to go private. The maker of meat-substitute patties said it plans to keep operating as it has as it works through bankruptcy. Gardenburger’s stock, which trades on the low-profile over-the-counter exchange after being delisted from Nasdaq in 2001, is set to be cancelled Aliso Viejo-based Fluor Corp. said its North Caspian Constructors venture won work to build an oil complex in the Kazakhstan sector of the North Caspian Sea. Terms of the deal weren’t disclosed Foothill Ranch-based Oakley Inc. said it created a film unit, 1242 Productions Inc. Costa Mesa-based Experian Group posted record 29% revenue growth for the six months ended Sept. 30, according to parent company Gus PLC of Britain Chemical company American Vanguard Corp. said its Alabama plant was closed for two weeks after Hurricanes Katrina and Rita but that the closures didn’t have a material impact on operations. For the first half, American Vanguard had $78 million in sales, up 18% from a year earlier. Profits were up 26% to nearly $6 million Irvine-based security monitoring company Westec InterActive has bought three companies in a move that’s set to double its workforce to 300 people. The company bought DV Dallas and d2 Digital Designs LLC, both of Dallas, and Frederick, Md.-based Sparta Consulting Group. Terms weren’t disclosed Cypress-based Yamaha Motor Corp. USA filed suit against Union City-based Yamoto Motor Corp. and its San Clemente distributor, Patriot Motorcycles Corp., for allegedly selling knockoff Yamaha all-terrain vehicles under a name similar to Yamaha’s. Costa Mesa dealer Family Motor Sports also was named in the suit. Yamaha said the dealer doesn’t have a state license to sell the vehicles.
