Stories for April 2006
Friday, April 28
Sports apparel manufacturer K-Swiss posted a decline in first-quarter earnings, the company announced.
Walt Disney Pictures will partner with MySpace.com to give one member the opportunity to launch the world premiere of the theatrical trailer for Pirates of the Caribbean: Dead Man's Chest.
The Northeast Valley Health Corporation has launched an internal campaign to offer its over 600 employees the chance to participate in the May 1 walkout without disrupting services to patients.
Thursday, April 27
The environment, early childhood issues, and challenges facing youth will be among the topics discussed in a series of workshops between government, education and community agencies and faculty and students at California State University at Northridge.
Digital Insight Corp. reported an increase in its earnings for the first quarter of its fiscal year ending March 31.
Countrywide Financial Corp.'s earnings decreased to $683.5 million, or $1.10 per share, on sales of $2.84 billion for the first quarter of 2006 due to a flat yield curve and higher interest rates.
National Technical Systems Inc., a Calabasas-based provider of testing services for information technology markets, reported a 95 percent in earnings to $1.2 million, or $0.12 per share on sales of $28.8 million for the fourth quarter of fiscal 2006.
It looks like Iconix Brand Group will prevail in its acquisition bid for sportswear manufacturer Mossimo after reaching an agreement with Mossimo's other suitor, Van Nuys-based Cherokee Inc.
Attendees at a conference on the economy of the Antelope and Santa Clarita valleys heard an analysis and forecast for the regions that was generally upbeat.
Wednesday, April 26
Helinet Aviation Services has partnered with two companies to better position itself to provide its services to the federal government, the company announced this week.
Restaurant chain IHOP Corp. jumped 25 percent in earnings to $12.6 million, or $0.68 per share on sales of $45.3 million for the first quarter of 2006 due to higher same-store sales from franchise operations.
Woodland Hills-based auto insurer 21st Century Insurance Group posted a first-quarter net income of $21.3 million, or $0.25 per share on net premiums of $337.2 million, compared with income of $19.3 million, or $0.23 per share, on net premiums of $350.9 m
Tuesday, April 25
Women's sportswear maker Mossimo Inc. has agreed to evaluate a recent proposal made by Cherokee Inc. to acquire the company for $8.50 per share in cash and stock shares.
North American Scientific announced that it has received the approval of the Food and Drug Administration for a low-dose radiation version of a device used to treat breast cancer.
Disney's Game Caf & #233;, the downloadable games collection for older audiences, will expand its Web site with more than 35 new games.
California Oaks State Bank said today that it earned $184,818 or $0.10 per diluted share for the quarter ended Mar. 31, more than two-and-a half times its earnings for the comparable period a year ago.
About 25 employees from the Hallmark Channel were laid off this week as part of a cost-cutting measure by its parent company, Crown Media Holdings, Inc.
Monday, April 24
This year's Economic Summit will combine the economic forecast conference held by the San Fernando Valley Economic Research Center at California State University Northridge and the Real Estate Outlook event from CSUN's Center for Real Estate.
THQ Inc., a video game developer in Agoura Hills, announced its 2006 lineup of video games in development based on popular Nickelodeon shows.
Image Entertainment announced that it has signed an exclusive agreement with Wanda Sykes to produce and distribute a live stand-up television special on DVD and CD.
With limited room availability throughout the region, most local hotel operators are gearing up for a busy summer season.
A bevy of new restaurants locating in the San Fernando Valley are proving that you don't have to travel over the hill to get a decent meal.
Many neighborhood councils have seen voter turnout wane in their most recent elections, but officials say that could be the result of general satisfaction with the way the community is running.
The San Fernando Valley is no longer just a place where overflow convention traffic from downtown or the Westside goes. It is becoming a destination on its own.
The site that once housed Montgomery Ward in Panorama City is slated to become an upscale condominium project.
Office vacancy rates haven't moved since the fourth quarter of 2005, and building sales seem to have slowed considerably since the end of last year too.
The Harvard Business Review published a fascinating article on a restaurant chain many know around the country: Outback Steakhouse.
After nearly 40 years, the popular Brent's Deli plans a second location.
Pierce College and College of the Canyons have teamed together to begin this month counseling and seminars as part of the SBA's Small Business Development offerings.
Medical Illumination International wasn't looking to acquire a separate company, and certainly not one located some 2,500 miles away in a city on the shore of Lake Erie.
Richard Sperber, the second generation at family owned ValleyCrest Cos. in Calabasas, is helping the company to branch out into a new arena, landscape architecture, after purchasing two such firms.
Students graduated from an accelerated call center training program offered at Pierce College's Economic and Workforce Development Department will be taking jobs with Woodland Hills-based Health Net.
Among the new faces at Natrol Inc. is Wayne Bos, CEO of the nutriceuticals company, Staff Reporter Jonathan D. Colburn reports.
Business tenants at Van Nuys Airport were surprised last week when a resolution came before the Board of Airport Commissioners to revisit a ban on certain types of jet aircraft.
Valley companies try a new way of marketing to Latino audiences.
Van Nuys Airport companies tell students of career opportunities at their firms.
More than a few Valley restaurants that are celebrating half a century in business have really survived the test of time.
Health Net of California has appointed three executives to head its commercial, Medicare and State Health Programs.
A strong economic outlook and expectations that gas may reach $4 a gallon could be good news for local theme parks that are gearing up to attract vacationers who want to stay closer to home.
Why should the business community care about whether the LAUSD is broken up?
IHOP Corp. has inked a multi-store franchise deal in Mexico, the company's first deal outside the U.S. since it changed its franchise business model.
Friday, April 21
Westlake Canyon International, Inc. a holding corporation in Westlake Village, has acquired Vision Co. Ltd., a Japanese corporation that makes and markets miniature personal cleaning towels that expand to normal size with water.
Three days after announcing an internal investigation into its stock option accounting and placing three executives on administrative leave, Vitesse Semiconductor Corp. said it has canceled its second-quarter earnings call.
FCB Bancorp, the holding company for First California Bank, reported net income for the first quarter of 2006 rose 75 percent to $1 million or $0.31 per diluted share. For the comparable period a year ago, FCB earned $577,000 or $0.26 per share.
The San Fernando Valley is no longer just a place where overflow convention
Thursday, April 20
Zenith National Insurance Corp. reported first-quarter net income of $57.5 million, or $1.55 per share on revenues of$280.8 million compared to net income of $39.3 million, or $1.10 per share, on revenues of $305.7 million last year.
Ryland Group Inc., homebuilder and mortgage financing company in Calabasas rose to earnings of $90 million, or $ 1.86 per share on revenues of $1.07 billion for the first quarter of 2006 due to a high number of home closings and average closing prices.
Ixia Inc posted first-quarter earning of $500,000, or $0.01 per share on revenues of $38.9 million compared with $9.3 million, or $0.14 per share, on revenues of $38.4 million a year ago.
THQ Inc., a videogame publisher in Agoura Hills is warning investors that it will likely post a fourth-quarter loss.
Wednesday, April 19
Image Entertainment announced on Wednesday it was launching a new distribution division for independent audio and video labels.
Bank of Santa Clarita said today its assets grew by 39 percent to $87 million in the first quarter ended March 31 versus assets of $31.2 million in the year-ago period.
Tuesday, April 18
The Burbank-Glendale-Pasadena Airport Authority approved on Monday to allow Helinet Aviation Services to train its pilots at Bob Hope Airport.
Qualstar Corp., a manufacturer of automated tape libraries in Simi Valley, is expecting revenues to drop below their original forecast to between $5 and $5.1 million for the third quarter in contrast to previous estimates of $5.6 to $6.3 million.
Thousand Oaks-based Amgen Inc. posted a profit if $1 billion, or $0.82 per share on revenues of $3.22 billion in the first quarter, compared with earnings of $854 million, or $0.657 per share, on revenues of $2.83 billion during the same period last year.
Monday, April 17
Semiconductor developer, TechnoConcepts, Inc. in Van Nuys, filed a patent with the U.S. Patent office for new inventions which rid cell phones and other communication devices of background noise and improve voice clarity.
Mayor Antonio Villaraigosa announced his support for a seven-year phase out of Stage 2 jet aircraft at Van Nuys Airport.
ureBeauty Inc. has inked a deal to be acquired by a private investment firm as it files for Chap. 11 bankruptcy protection.
Cherokee Inc., a Van Nuys licensor and brand management company, made an offer today to acquire all the outstanding shares of Mossimo Inc. for $8.50 per share with $6.00 per share to be paid in cash and the other $2.50 in stock.
Friday, April 14
Los Angeles City Councilman Alex Padilla has topped the $1 million mark in raising funds in his run for a state senate seat, his campaign has announced.
Silver-zinc battery developer Zinc Matrix Power Inc. received a $7 million investment to create and staff a pilot production facility in Camarillo.
Thursday, April 13
Helinet Aviation Services received an award from the U.S. Small Business Administration for providing high definition cameras used to survey the destruction left behind from Hurricane Katrina.
Providence Holy Cross announced today that it has been named among the top five percent of hospitals in the nation and is a recipient of the 2006 Distinguished Hospital Award for Clinical Excellence.
IHOP Corp.'s CEO Julia Stewart announced that system-wide same-store sales increased 5.1 percent during the first quarter.
The developers behind the Lowe's Town Center proposal in Westlake Village have filed a motion to put the decision on whether to construct the center before voters in November.
Wednesday, April 12
Cherokee Inc. reported net income rose 8.2 percent to $4.4 million or $0.49 per share for the fourth quarter ended January 28, 2006, compared to earnings of $4.0 million or $0.46 per diluted share for the comparable period a year ago.
Van Nuys-based Superior Industries International, a supplier of aluminum wheels and automotive parts, has been contracted to supply 17-inch wheels for the 2007 Subaru.
The Economic Alliance of the San Fernando Valley was one of three agencies receiving money from the Alliance for Regional Stewardship.
1105 Media Inc., a newly-formed business-to-business information company has acquired Chatsworth-based 101communications LLC and Stevens Publishing.
Tuesday, April 11
Financial institutions with customers who use online bill payment had significantly higher benefits, a survey commissioned by Digital Insight Corp. has found.
The National Association of Latino Elected Officials has received a $250,000 donation from Blue Cross of California for a 3-year educational program aimed at helping Latino Leaders address the country's obesity problem.
Image Entertainment, a Chatsworth-based independent licensee, producer and distributor of home entertainment will release Austin City Limits Music Festival 2005 on DVD and CD on June 20, 2006.
North Valley Regional Chamber of Commerce, Health and Wellness Networking Cluster
Monday, April 10
A polarized pool of candidates with concentrations either at the low-skill or highly-skilled end and an attitude by employers that middle managers must have extensive experience in the industry as well, is creating difficulties for those who recruit and h
American Business Bank is boosting its Valley region operations with new Woodland Hills offices and additional staff.
Many businesses are buying insurance to help protect against the costs of wage and hour and sexual harassment lawsuits, and with the popularity of these plans, the number of insurers offering the programs has risen as well.
IHOP Corp.'s board of directors declared a cash dividend of $0.25 per common share which will be payable on May 23 to stockholders of record as of May 2.
The Hilton Universal is undergoing its first major renovation in 10 years.
Health Net thinks it may have hit on a better mousetrap for selling Medicare-related policies to seniors - a storefront where customers can purchase their policies.
Biotech entrepreneurs learn how to find money for their ventures.
Camarillo-based Salem Communications, a radio broadcaster, Internet content provider and magazine publisher focused on Christian themes, acquired Townhall.com in Washington D.C, a Web site publisher of conservative news and opinions.
Frustrated with the internship programs available, Bliss Unlimited provides its own with a working retail store where students can learn the principles of merchandising and customer service
The rising cost of health care and insurance is leading some employers to make cuts in other areas of the company, while others have increased the amount employees are required to contribute and still others have raised the prices on their goods and servi
North Valley Regional Chamber of Commerce, Business2Business Networking Cluster
United Online, Inc. announced Monday their acquisition of an Internet direct marketing services provider.
So far this year, home sales are down by about 25 percent nationally, but at Metrocities Mortgage, business is up by about 30 percent.
A Woodland Hills-based health care company is defying conventional wisdom by providing physicians who make house calls to chronically ill patients and, rather than adding expense, the strategy may be reducing the cost of care.
Image Entertainment has hired an investment banking firm to review its businesses and strategic options, the company announced Monday.
No longer mere paper shufflers handling payroll and benefits, human resources managers and directors have transitioned into roles where they are directly connected to the strategic plans of the companies they work for.
The developer of the Price Pfister project in Pacoima acquires additional
A 120-acre parcel, the last large-scale freeway frontage in the Conejo Valley is slated for development, Senior Reporter Shelly Garcia reports.
Actual and projected California revenues are significantly higher (approximately 15 percent to 20 percent) than just two years ago.
Amgen helped push biotech revenues to record levels last year, Staff Reporter Jonathan D. Colburn reports.
Friday, April 7
Calabasas-based network provider, Ixia said it expected earnings in the range of $38 million to $39 million or $0.00 to $0.02 per share or the first quarter ended March 31, 2006, below the company's previous guidance of $39 million to $41 million or $0.01
The former chief financial officer for Long Beach has been tapped by the city of Burbank to be the new financial services director.
Thursday, April 6
Restoration Hardware Inc. is opening an outlet store in Camarillo Premium Outlets on Friday, April 7.
Waat Media has joined forces with Games Marketing Ltd. in a partnership to develop and distribute casino games that can be accessed via mobile phones worldwide.
Shares in Ixia dropped in aftermarket trading after the company said it will come up short of Wall Street's expectations.
Shoe Pavilion said its net sales increased 17 percent to $27.3 million for the 13 weeks ended April 1. The company reported net sales of $23.3 million for the comparable period a year ago.
Wednesday, April 5
The Walt Disney Co. announced Wednesday the launching of a new wireless service designed for families that allows management of phone use.
Julia A. Stewart, president and CEO of restaurant chain, IHOP Corp., received the 2006 Trailblazer Award from the Women's Foodservice Forum (WFF) for her achievements in the foodservice industry.
The Ryland Group, one of the country's largest homebuilders, jumped 25 places to No. 444 on the Fortune 500 list of the America's largest companies.
Voit Development Co. and Selleck Development Group have raised walls on their 15-acre addition to The Plant, an industrial and retail center in Panorama City.
Tuesday, April 4
Chatsworth-based IRIS International Inc. has purchased Leucadia Technologies for $10.1 million.
Standard & Poor's will add United Online Inc., an Internet service provider in Woodland Hills, to the S & P; Small Cap 600 index.
Warner Bros. is one of six studios partnering with Movielink to allow movie fans to download feature films beginning Monday.
Monday, April 3
Electronic Clearing House Inc., an electronic payment service in Camarillo, and its subsidiary XPRESSCHEX, Inc., have settled patent litigation with LML Payment Systems subsidiary LML Patent Corp.
Burbank has been tapped by Warner Bros. Entertainment and CBS Inc. as the location for its new television network to be launched this fall.
Health Net added more than 100,000 new members as it announced the completed acquisition of Universal Care Inc.
Thousand Oaks-based Amgen announced it has completed a $2.2 billion acquisition of Abgenix Inc., which works in the field of human therapeutic antibodies.