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Wednesday, Jun 7, 2023

Briefs: IPC, Semtech, Superior, Burbank Airport

IPC Hospitalist Co. Inc. announced Friday it was acquiring CAP Medical Group, PLLC in New Hartford, N. Y. The purchase by the North Hollywood company, which manages hospital-based doctor groups, represents an expansion in upstate New York and is the third acquisition in that state in the past 18 months. Financial terms of the deal were not disclosed. CAP Medical treats patients in post-acute facilities in the Rome-Utica-Syracuse area. Shares closed up 18 cents, or a fraction of a percent, to $52.30 on the Nasdaq. Charles B. Ammann has been named general counsel and executive vice president of Semtech Corp., the company announced Friday. Ammann joins the Camarillo semiconductor manufacturer having served in the same position at Internet services provider United Online Inc. in Woodland Hills. He replaces Randall H. Holliday, who retired after five years. Chief Executive Mohan Maheswaran said Ammann will be a key member of the executive team as the company seeks to achieve $1 billion in sales. Shares closed down 50 cents, or nearly 2 percent, to $25.72 on the Nasdaq. Passenger traffic rose in January at Burbank Bob Hope Airport, according to figures released by the facility. The airport’s seven scheduled commercial airlines served 302,000 passengers last month, up 3 percent from January 2013 when 294,000 passengers used the airport. It is the second month in a row that the struggling airfield has shown an increase in passengers coming through. In the past several years, flight traffic and passenger counts have dwindled amid the recession and a move by carriers to consolidate operations at larger airports in order to keep planes full. Superior Industries International Inc. on Friday matched analyst estimates on earnings for the fourth quarter but missed on revenue. The Van Nuys aluminum wheel manufacturer reported net income of $6.4 million (23 cents a share), compared with $2.7 million (10 cents) in the same period a year earlier. Revenue fell 8 percent to $192.5 million. Analysts estimated earnings of 23 cents on revenue of $199.2 million, according to Thomson Financial Network. The company attributed the decrease in revenue due to fewer sales and lower average selling price due to lower aluminum prices. Shares closed up 77 cents, or 4 percent, to $19.66 on the New York Stock Exchange.

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