A Costa Mesa-based startup launched by two executives with a track record of success in Orange County is off to a fast start.
Tactical Cloud, which provides cloud consulting geared for chief technologists and develops custom software, expects to double its run rate this year due to strong demand from customers planning to move computer-installed software to the cloud.
The company, which launched in September 2015, posted revenue of $3 million last year and served 27 clients.
“We found gaps in [enterprise resource planning] technology and are building a business intelligence tool that’s taking off like crazy,” said Mike Kelly, who launched the company with Colleen Freeman.
The duo founded Beacon Resources LLC in Newport Beach and sold the executive search, interim staffing and direct placement services provider in 2014 to Woodland Hills-based DLC on undisclosed terms.
That same year Beacon ranked No. 32 among OC’s fastest-growing private companies with a 250% revenue growth rate over two years. The firm had an estimated $7 million in revenue in 2013, a figure that grew to $17 million two years later when Kelly departed.
Beacon was the ninth largest management consultancy in OC last year, with 55 local employees, according to Business Journal research.
Tactical Cloud’s core offering aggregates ERP and customer relationship management software, and provides insights in supply chain, e-commerce, and sales, among other tools, and moves them to the cloud.
“Everything is on one platform,” Kelly said.
The company now serves 47 clients, including Newport Beach-based Clean Energy Fuels Corp. and Glaukos Corp. in San Clemente. It employs 15.
TTM Grows
Costa Mesa-based TTM Technologies Inc. has expanded its manufacturing operation to the Denver suburb of Littleton, Colo.
The Denver West Building doubles manufacturing floor space to 55,000 square feet to accommodate technological and equipment upgrades over the next two years. The changes will provide a foundation for the development of the TTM Center of Excellence for satellite manufacturing in Denver.
TTM is the nation’s largest printed circuit board maker and had sales of $2.5 billion last year, up 20.8% over 2015, and adjusted profits of $142.3 million, up 75.4%.
The company reported growth in the automotive, aerospace and defense sectors that partially offset declines in the cellular, networking and communications segments.
TTM projects revenue in the current quarter at between $595 million to $635 million, and adjusted profits in the range of $25.2 million to $31.6 million. Wall Street consensus forecasts sales of $615 million and an adjusted profit of $28.6 million.
Slow VR Start
The numbers are starting to trickle in, and it looks like the market for virtual reality headsets hasn’t met the hype in the early going.
Market trackers such as Framingham, Mass.-based IDC and SuperData Research in New York recently reported sales that widely missed forecasts, which could present some headwinds for locals, such as Newport Beach-based NextVR Inc., despite its growing catalogue of live content and distribution and broadcast partners.
Here’s a quick look at the 2016 sales projections and figures:
