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Thursday, Nov 30, 2023

Valley Briefs

Valley Briefs Medical Acquisition North American Scientific Inc. has agreed to acquire NOMOS Corp. in a cash and stock deal valued at $56 million. Chatsworth-based North American Scientific and NOMOS are both radiation oncology companies that provide products and technologies for the treatment and diagnosis of cancers. North American Scientific’s products include brachytherapy seeds and radiopharmaceuticals. NOMOS supplies planning and delivery technology for radiation therapy. With the acquisition, North American Scientific will expand its portfolio of products. NOMOS, headquartered near Pittsburgh, will continue to operate its facilities there, in Europe and in China. The company’s management team and technical and support staff will also remain in place. The privately held company had revenues of $31 million in its most recent fiscal year. North American Scientific, with revenues of just under $20 million, reported a net loss in its most recent quarter of $2.8 million or $0.28 per share on revenues of $3.0 million. Power-One Improves Power-One Inc. reported a net loss of $3.6 million or $0.04 per share on revenues of $63.7 million for the third quarter ended Sept. 30. The company lost $198.5 million or $2.45 per share on revenues of $60.0 million in the comparable quarter last year. Camarillo-based Power-One is a designer and maker of power conversion products for the telecommunications industry. Company officials said they expect sales in the range of $60 million to $64 million in the fourth quarter of 2003 and a net loss for the period ranging from $0.05 to $0.08 per share. VICA Opposes Inclusionary Programs The Valley Industry and Commerce Association has issued a position opposing a proposed inclusionary housing program in the city of Los Angeles. The program under consideration by the Los Angeles City Council would require residential developers to set aside between 10 percent and 20 percent of new housing units at below-market costs for residents who are unable to afford market rents. “In a time when there is such a severe shortage of housing, the city cannot risk bad public policies like the inclusionary housing program, that will ultimately threaten, slow or completely curtail the development of new residential units in Los Angeles,” said Brad Rosenheim co-chair of VICA’s land use committee. DSW to Galleria DSW, a discount shoe retailer, has announced plans to open a store in the Sherman Oaks Galleria later this month. The Business Journal previously reported that DSW was close to a deal with the complex. The store will be the chain’s third in the San Fernando Valley. DSW also operates units in Northridge and West Hills. Nationally, DSW, which is based in Columbus, Ohio, operates 136 stores in 57 markets. United Online Revenue Jumps Once struggling Internet service provider, United Online Inc. posted a profitable third quarter with a 53 percent increase in revenue over the same period last year. For the quarter ending Sept. 30, Westlake Village-based company reported $8.9 million in net income or $0.19 per share on $88.8 million in revenue compared a year earlier when posted $1.5 million in net income or $0.03 per share on $58.1 million in revenue. During the quarter, the company reported a 132 percent increase in cash flow, going from $8.2 million a year ago, to $18.9 million. “We generated an impressive 173,000 new pay subscribers during the quarter, reinforcing our belief in the strong growth prospects for the value segment of the ISP market,” said CEO Mark R. Goldston. Many of the new subscribers came from the company’s free services through its NetZero and BlueLight Internet brands. “Average revenue per pay subscriber increased again this quarter and our billable services margin exceeded 70 percent for the first time in the company’s history,” Goldston said. The company estimates revenue for the current quarter will be between $93 million and 95 million. College Plans Technology Fair Los Angeles Valley College will host a technology fair to demonstrate student-created robots and equipment along with a job fair for technology firms from 11 a.m. to 1 p.m. on Wednesday, Nov. 12 at its campus, 5800 Fulton Ave. The event will feature representatives from the Boeing Co., Konica Minolta Business Solutions, Precision Dynamics, Rocketdyne Propulsion & Power, Superior Industries and others. The program will take place at Monarch Hall in the Campus Center, the Engineering Building’s room 108 and the Physics Building’s room 107. For more information, call (818) 947-2600. K-Swiss Seeks OK for Stock Split Westlake Village-based athletic shoe maker K-Swiss Inc. will call a special stockholders meeting sometime in December to seek approval for a proposed two-for-one stock split. The company says it seeks to split the stock of its Class A and Class B common stock and to expand its quarterly cash dividend from $0.02 per quarter to include the proposed split shares. The deal will increase the number of Class A shares from 36 million to 90 million and its Class B shares from 10 million to 18 million. For the quarter ending Sept. 30, the company reported $15.1 million profit or $0.80 per share on $121.6 million in revenue, compared to the same period last year when it reported $8.2 million profit on $81.6 million in revenue. For the current quarter, the company projects revenues to reach between $75 million and $80 million with earnings per share estimated between $0.37 and $0.42. Annual revenues are projected to reach between $425 million and $430 million, with earnings in the range of $2.55 and $2.60 per share. Last year the company reported $28.7 million in net income or $0.57 per share on $290.4 million in revenue. Fire Warnings Los Angeles County Supervisor Michael Antonovich has issued a warning to Valley residents and business owners to be wary of telephone and Internet scam artists seeking donations for bogus charities, specifically to help fire disaster victims and to donate to firemen’s funds in an attempt to cash in on the recent fires. Disaster-related scam calls tend to run high following high-profile fires, floods or earthquakes and Antonovich is recommending all charity calls or Internet inquiries from agencies that are not familiar, be fully vetted beforehand. To check on the status of a charity, call the Attorney General’s Office/Charity Registration division at (916) 445-2021.

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