MANUFACTURING
AVD Sales, Income Up
Newport Beach-based American Vanguard Corp. (NYSE: AVD) reported third quarter sales climbed 24% to $111.8 million while net income jumped 60% to $6.5 million.
October Auto Sales Mixed
Sales by OC automakers were mixed in October with three of the five local companies reporting an increase.
Masimo 3Q Sales up 8.9%
Masimo Corp. (Nasdaq: MASI) reported third quarter revenue climbed 8.9% to $210.6 million. Product sales grew 12% to $202.1 million for the quarter while royalty and other revenue declined 38% to $8.5 million.
Lantronix Reports Higher Revenue, Lower Loss
Irvine-based Lantronix Inc. (Nasdaq: LTRX) reported net revenue of $12.3 million, up 16% year-over-year, and a net loss of $83,000, an 87% improvement, in its most recent quarter.
Edwards: Sales Up, Shares Dip
Edwards Lifesciences Corp. (NYSE: EW) earned $226 million on sales of $907 million in its most recent quarter. Sales rose 10% year-over-year but missed expectations and its shares dipped 2% to a $30 billion market cap.
Spectrum Pharma Names CMO
Spectrum Pharmaceuticals Inc. (Nasdaq: SPPI) named Francois Lebel as chief medical officer, overseeing the company’s clinical program including directing clinical trials and development as well as regulatory submissions.
Microsoft May Buy Irvine Gaming Studio
Irvine-based independent gaming studio Obsidian Entertainment Inc. is set to be sold to tech giant Microsoft Corp., according to published reports.
Microsemi Execs Sue Microchip
Ousted Microsemi Corp. Chief Executive James Peterson and three of his former executives are suing Microchip Technology Inc. and its executives for alleged slander, libel and unfair business practices.
Blizzard Cofounder Cedes President Role
Blizzard Entertainment Inc. cofounder and President Mike Morhaime is ceding his executive role to “World of Warcraft” Executive Producer J. Allen Brack.
September Auto Sales Down
Nearly all of the OC automakers reported a drop in September sales on Tuesday with the exception of Fountain Valley-based Hyundai Motors North America.
Kaiser Buys in NJ
Kaiser Aluminum Corp. in Foothill Ranch bought Columbia, N.J.-based 3D metal printer Imperial Machine & Tool Co. on undisclosed terms.
Allergan to Buy NB’s Bonti
Allergan PLC announced it will buy Newport Beach-based Bonti Inc. for $195 million.
Rossignol Picks Global Bike Chief
Rossignol Group, a French maker of ski, snowboard and biking products, named Scott Rittschof to a new position as senior vice president of its global bicycle business, based in Irvine.
Avid Beats on Lower Revenue
Tustin-based Avid Bioservices Inc. (Nasdaq: CDMO) reported fiscal first-quarter revenue fell 54% to $12.6 million from the same period a year ago but the figure topped analyst estimates and the company reaffirmed full year revenue guidance in a range of $51 million to $55 million.
Hybrid Apparel Names President
Cypress-based Hybrid Apparel promoted David Lederman from chief operating officer to president.
