K-Swiss profits fall as sales down 32%
Athletic shoemaker K-Swiss stumbled into another large loss in the second quarter as its worldwide sales plummeted by almost one-third. The Westlake Village-based company reported an $11.6 million loss, compared to a loss of $20 million in the same quarter a year earlier. Worldwide revenue fell 31.5 percent to $44.8 million during the quarter. U.S. Read More →
Read More →PacWest closes American Perspective deal
PacWest Bancorp has wrapped up its $58.1 million acquisition of San Luis Obispo-based American Perspective Bank. The deal adds two branches, a loan production office and about $271 million in assets to Los Angeles-based PacWest’s portfolio and expands its reach up the Central Coast. The deal, first announced in April, trumped an earlier offer for Read More →
Read More →Connexity caps funding at $3 million
Ventura-based digital advertising firm Connexity has raised $1.1 million in a financing round led by Santa Barbara-based Rincon Venture Partners with participation from Santa Monica-based Siemer Ventures and has quit seeking seed funding. Connexity was founded by a group of digital ad veterans who previously founded Fastclick, which was sold to Westlake Village-based ValueClick for Read More →
Read More →First California hires KBW to test waters for sale
In a move that could foreshadow the sale of the company, Westlake Village-based First California Financial Group has hired an outside investment bank and a law firm to undertake a “strategic review” of the company’s business plan and options. But it is not clear whether the hiring of advisers signals a deal in the works Read More →
Read More →Alma Rosa Winery files Ch. 11
Alma Rosa Winery & Vineyards, a Santa Barbara County operation owned by pinot noir pioneer Richard Sanford, has filed for Chapter 11 bankruptcy protections. The company listed assets between $1 million and $10 million and debts between $1 million and $10 million in its July 27 filing. The winery is nestled on Santa Rosa Road Read More →
Read More →Community West lost $591K in Q2
Shares of Community West Bancshares soared 7.7 percent even as the Goleta-based bank reported a $591,000 second-quarter loss. The parent company of Community West Bank’s latest loss swings away from an $819,000 profit in the first quarter. Including $268,000 in dividends and accretion on preferred stock, Community West’s second-quarter net loss applicable to common stockholders Read More →
Read More →Clean Diesel wins Honda contract
Ventura-based Clean Diesel Technologies said July 30 that it won a contract to supply catalysts for four- and six-cylinder Honda Accords, some of the best-selling models in North America. The company, known as Catalytic Solutions before a merger in 2010, makes catalytic converters in its Oxnard factory and has about 180 employees. Its converters clean Read More →
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