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Sunday, Nov 27, 2022
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Around the Valleys

Antelope Valley LANCASTER Simulations Plus Inc. beat analysts’ expectations by reporting net income of $1.36 million on revenue of $5.4 million during the fiscal first quarter ended Nov. 30. The Lancaster company, which makes software for pharmaceutical research that simulates a drug’s actions in the body, had earnings of 8 cents a share, compared to 6 cents for the same quarter last year. The one analyst who covers the company estimated earnings of 7 cents a share on revenue of $5 million, according to Thomson Financial. Walt Woltosz, chief executive of Simulations Plus, said fiscal 2017 is off to a good start. Conejo Valley CAMARILLO Salem Media Group Inc. announced that its show “Good Clean Fun with Kevin and Taylor” will launch in 60 markets across the United States. The Camarillo-based radio broadcaster also airs the show on company-owned stations in Los Angeles and six other cities, including Atlanta, where the Kevin and Taylor duo are based. While the show works in any daypart and multiple radio formats from adult contemporary to country, the show is fed from 5 a.m. to 10 a.m. Monday to Friday on the Salem Music Network’s satellite feed out of Nashville, Tenn. OAK PARK An Oak Park shopping center has changed hands for nearly $30 million, according to L.A.-based CBRE Group Inc. Private investors paid just over $28 million, or about $380 a square foot, for the more than 74,000-square-foot Oak Park Shopping Center at 604 to 664 Lindero Canyon Road. According to real estate database CoStar Group Inc., the buyers were Govind R. and Sonal G. Vaghashia of Chatsworth, who bought the center from Roseville investment firm Pacific Capital. According to CBRE, the center is 98 percent occupied and includes tenants such as United Parcel Service of America Inc. and Goodwill Industries International Inc. THOUSAND OAKS A subsidiary of Teledyne Technologies Inc. has received a multi-million dollar contract from the Pentagon to supply underwater robots used in disposing explosives. The exact value of the contract received by Teledyne SeaBotix, in San Diego, through a distributor, was not disclosed. Teledyne SeaBotix will deliver 60 remotely operated vehicles for use by explosive disposal teams of the U.S. Navy. The company’s website describes the product as a 40-pound vehicle that is tethered to the surface and has cameras and operational tools. The last 29 acres of buildable land in the Conejo Spectrum Business Park has sold to an Irvine investment and development firm. Sares Regis Group and a financial partner bought the parcel on Conejo Spectrum Street, which lays between Rancho Conejo Boulevard and Conejo Spectrum Drive, according to Colliers International which brokered the deal out of its Encino office. A purchase price was not disclosed. According to Colliers, Sares Regis plans to build nine industrial buildings totaling 500,000 square feet. The warehouses will range from 37,000 square feet to 100,000 square feet. WESTLAKE VILLAGE Cynvenio Biosystems Inc. has released its second-generation ClearID Breast Cancer blood test. ClearID utilizes a sequencing panel of 27 genes known to be altered in breast cancer to identify genetic mutations for treatment. The new test identifies cells that have shed from the cancerous tumor and are circulating in the body as well as genetic mutations with drug resistance. It has also been improved to monitor breast cancer patients during different stages of treatment. The ClearID test is based on Cynvenio’s LiquidBiopsy platform, which analyzes a combination of DNA in the bloodstream to understand tumor progression. San Fernando Valley BURBANK Walt Disney Co. is recalling about 15,000 hoodie sweatshirts sold at its U.S. theme parks due to a potential choking hazard. The Minnie and Mickey Mouse infant sweatshirts have snaps on the hoodies that can detach and potentially choke young children, according to the U.S. Consumer Product Safety Commission. There have been no reports of any incidents or injuries of choking, the commission said. The sweatshirts were made in China and sold exclusively for about $30 at gift shops at Disneyland in Anaheim and at Walt Disney World Resort near Orlando, Fla. and through a mobile app. ENCINO Gelb Group of Encino sold and bought a pair of equal value properties in Woodland Hills and Granada Hills in a 1031 exchange, a way for investors to defer paying capital gains tax on the sale of property. Development and property management firm Gelb Group sold an 8-acre shopping center at 16201 to 16269 San Fernando Mission Blvd., for $23 million to Harridge Development Group of Los Angeles. In the second deal, Gelb bought a 108,000-square-foot office building at 6200 Canoga Ave. in Woodland Hills’ Warner Center neighborhood for $22 million from Canoga Center Holdings. GLENDALE DineEquity Inc. announced deals to expand its Applebee’s and IHOP chains into five new countries by 2025. The Glendale restaurant group has signed four multi-unit development agreements with franchisees in Thailand, India, Bahrain, Oman and Panama. The agreements are part of DineEquity’s effort to double its international presence by 2021, mainly through outposts in the Middle East, Asia Pacific and Latin America. Since 2014, DineEquity has opened 80 restaurants outside the U.S. and is committed to creating 200 more, according to a company announcement. The agreements will introduce the IHOP brand to markets in the Asia Pacific region, while Applebee’s growth is poised for Latin America and the Middle East. NORTH HILLS Galpin Motors announced that the sports car VLF Rocket V8, formerly known as the Galpin Rocket, is in production at a Michigan speed shop. The North Hills auto dealer formerly sold a customized Ford Mustang called the Galpin Rocket. The new version will be produced by VLF Automotive in Auburn Hills, Mich., a company co-founded by former General Motors Co. executive Bob Lutz. The VLF Rocket can be purchased through Galpin Motors and is available in coupe and convertible versions. The car features a carbon-fiber body with a front splitter and rear spoiler. The 725-horsepower supercharged V8 engine turns 21-inch Pirelli extreme performance tires. WOODLAND HILLS Investment bank B. Riley & Co. was the sole underwriter in a secondary offering of 2.85 million shares of stock in Palo Alto-based communications company Ooma Inc. The bank, owned by parent company B. Riley Financial Inc. of Woodland Hills, represented entities affiliated with venture capital firm Worldview Technology Partners Inc. of San Jose, which sold the shares. The public offering was priced at $8.65, which was calculated to raise gross proceeds of approximately $24.6 million for the shareholders. Ooma did not receive any money from the transaction. Santa Clarita Valley SANTA CLARITA The City of Santa Clarita issued more than 500 on-location filming permits last year, with television shows accounting for more than half the total. It marked the third year in a row the city has exceeded the 500 milestone. In all, 548 permits were issued representing 1,366 film days in the city that brought in $33.1 million into the region. City officials credited the movie ranch overlay zone, local film incentives and the California Film and Television Tax Credit program with promoting production within its boundaries. Mayor Cameron Smyth said the city remains committed to keeping Santa Clarita a top choice for filming because it is a large part of the economy. – Compiled by Stephanie Henkel

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