San Diego Business Journal

LRAD Corp. Reports Q2 Revenue of $3.6 Million

LRAD Corp., the Rancho Bernardo maker of specialized loudspeakers used by militaries, law enforcement and governments, reported a net loss of $665,000, or 2 cents per share, on revenue of $3.6 million in the second quarter of fiscal 2016, which ended March 31. An income tax benefit of $547,000 cushioned the loss.

Navy Awards General Dynamics NASSCO One-Year Contract Worth Up to $83.5 Million

The U.S. Navy awarded General Dynamics NASSCO a one-year contract extension for littoral combat ship sustainment. The deal could be worth up as much as $83.5 million.

Headphone Company Makes a Safe and Very Sound Product

Some headphone makers make power their top priority. When they go to market, they promise an overwhelming sensory experience.

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The Big Leadership Decision

Implementing a CEO Transition Involves Many Complicated Factors for A Company

CEOs have tough jobs. There are many ways to go wrong and many ways to make stakeholders unhappy.

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Nature’s Nightlight

RETAIL: Co.’s Dino Pets Tap Plankton Power to Sell Unusual Aquariums

Who knew plankton could be fun? A Carlsbad company called BioPop has managed to convince people that the little creatures make good pets. It’s built a growing, $1.4 million business around a particular species of plankton, Pyrocystis fusiformis.

Pulse Electronics Refinances $80M in Debt

Pulse Electronics Corp. — a San Diego company that makes electronic components — said on May 19 that it has refinanced $80 million in debt.

San Diego-based Impact Components Eligible to Vie for $9.5M in Navy Contracts

San Diego-based Impact Components is among four small businesses who recently received indefinite delivery, indefinite quantity contracts to supply electrical components to the U.S. Navy.

Navy Awards Cypher Analytics Five-Year, $28.8 Million Contract

The U.S. Navy awarded San Diego-based Cypher Analytics Inc. a contract that could be worth up to $28.8 million over five years.

Chamber Poll Finds Looming Minimum Wage Hike Dampening Business Optimism

San Diego County business owners are less optimistic about prospects ahead because of the planned increases in the minimum wage and their own doubts about future hiring, the San Diego Regional Chamber of Commerce reported on May 19.

General Atomics Demonstrates Railgun During Army Exercise

General Atomics Electromagnetic Systems said that it demonstrated its Blitzer railgun during a three-week U.S. Army exercise in April at Fort Sill, Okla.

TPT Global Tech Inc. Acquires Trucom Networks

Downtown San Diego-based TPT Global Tech Inc. said it acquired Trucom Networks, a competitive local exchange carrier in Arizona and Nevada. Terms of the deal were not disclosed.

Franklin Wireless Reports Q3 Net Sales of $14.1 Million

Franklin Wireless Corp. reported net income of $391,000 on net sales of $14.1 million during its third quarter, which ended March 31. The San Diego business filed its statement with securities regulators on May 16.

Abacus Data Systems Acquires Amicus Attorney

Abacus Data Systems Inc. announced on May 17 that it acquired Toronto-based Amicus Attorney, a practice management solution for lawyers. Financial terms of the transaction were not disclosed.

Pentagon Awards Contracts to Three S.D. Firms

Three small construction companies from San Diego County are in line for millions of dollars of Pentagon work.

Novatel Wireless Inc. Posts Q1 Net Loss of $11.9 Million

Novatel Wireless Inc. reported a net loss of $11.9 million on total net revenues of $66.9 million in its first quarter.

Callaway Golf Announces Dividend; Shareholders Approve Slate of Directors

Carlsbad-based Callaway Golf Co. announced a 1 cent per share dividend, payable June 15 to shareholders of record on May 25.

Kratos Promotes Maria Cervantes de Burgreen as Corporate Controller, Principal Accounting Officer

Kratos Defense & Security Solutions Inc. said May 12 that it promoted Maria Cervantes de Burgreen to the post of vice president, corporate controller and principal accounting officer.

Donald Knauss Named Chairman of USD Board

The University of San Diego board has named Donald R. Knauss as its new chairman, effective July 1. Knauss will succeed Ron Fowler, who is stepping down from the chairman’s post.

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A Cool Innovation

ScaleMatrix Offers To Put Its Highly Efficient Data Center Technology On-Site

Executives at ScaleMatrix think there might be more than one path to growing their company.

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Expanding The Business Universe

The Computer Revolution Keeps Reinventing Itself As the Possibilities of Progress Continue to Increase

With each passing year, computers get more capable. The rapid development of the technology continues to shape business — all business, even those far from the heart of the technology sector.

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Drone Technology Gives Farmers A More Precise ‘Field of Vision’

SOFTWARE: Sensors Used to Identify Various Problems in Crops

Drones can’t deliver your supper — not in U.S. airspace — but they have already worked their way into the food chain.

Jack in the Box Reports Better-Than-Expected Q2 Earnings

Shares of Jack in the Box Inc. rose more than 10 percent to touch $71.99 in after-hours trading May 11 after the quick-service eatery chain reported second quarter earnings.

Vanguard Space Technologies Acquired By Albuquerque Company

Albuquerque, N.M.-based SolAero Technologies Corp. said May 11 that it has acquired Miramar-based Vanguard Space Technologies Inc., a builder of satellite components, for undisclosed terms. The seller was Enlightenment Capital.

Jean-Claude Kyrillos Appointed VP of Business Operations at Qualcomm Life

Qualcomm Life, a subsidiary of Qualcomm Inc., named Jean-Claude Kyrillos as vice president of business operations, the company announced May 10. Kyrillos will report to Rick Valencia, senior vice president and general manager of Qualcomm Life.

General Dynamics NASSCO Christens Tanker

General Dynamics NASSCO christened the tanker Garden State on May 7 in an event that featured the 610-foot-long vessel sliding down the shipyard’s inclined ways, into San Diego Bay.

MaxLinear Acquires Broadcom Assets for $80 Million

MaxLinear Inc. said May 9 that it agreed to buy the wireless infrastructure backhaul business from Broadcom Corp. for $80 million in cash.

Royale Energy Inc. Posts Q1 Net Loss of $624,000

Royale Energy Inc., the oil and gas producer based in El Cajon, reported a first quarter net loss of $624,000 on revenue of $287,000.

Qualcomm Ventures Participates In Series C Funding of 360fly Inc.

Qualcomm Ventures contributed an undisclosed amount to the to the $40 million series C funding round of 360fly Inc. — an Orange County company producing a single-lens camera that takes 360-degree video.

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Kratos Receives $8 Million Foreign Military Contract

Kratos Defense & Security Solutions Inc. said on May 5 that it received an $8 million contract to provide logistics support for naval training devices for an unnamed international customer.

Qualcomm Ventures Participates In Series C Funding of 360fly

Qualcomm Ventures contributed an undisclosed amount to the to the $40 million series C funding round of 360fly Inc. — an Orange County company producing a single-lens camera that takes 360-degree video.

Kratos Defense Cites Q1 $22.2M Net Loss on Revenues of $153M

Kratos Defense & Security Solutions Inc. reported a net loss of $22.2 million, or 37 cents per share, on revenues of $153 million in its first quarter, which ended March 27.

InfoSonics Corp. Reports Q1 Net Loss of $903K on Net Sales of $9.4 Million

InfoSonics Corp., the University City maker of smartphones and tablets, reported a net loss of $903,000 on net sales of $9.4 million in its first quarter of 2016. The loss amounted to 6 cents per diluted share.

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If You’re Looking to Experiment in Space, Your Ship Is In

RESEARCH: CASIS Rep To Be Stationed in S.D. To Facilitate the Process

An organization with ties to NASA that oversees private research on the International Space Station is raising its profile among the local research community. The Florida-based Center for the Advancement of Science in Space — called CASIS for short — plans to station a representative in San Diego.

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Navy’s Unmanned Ship to Be Put to the Test in Point Loma

It’s an unmanned machine made of carbon fiber, one that can stay on station for ridiculously long periods of time. Nothing new for San Diego, right? Except this one is 132 feet long and doesn’t fly. It floats.

Qualcomm's Executive Chairman Joins Board of Dropbox

Paul Jacobs has joined the board of Dropbox, the San Francisco file hosting service announced in a blog post on May 2.

Sempra Energy Posts Q1 Earnings, Updates Cost of Gas Leak

Sempra Energy — parent company to San Diego Gas & Electric Co. and Southern California Gas Co. — reported first quarter earnings of $319 million, or $1.27 per share of common stock, on revenue of $2.62 billion. The company made the announcement May 4.

Mitek Systems Inc. Reports Q2 Revenue of $8.5 Million

Kearny Mesa-based Mitek Systems Inc. reported net income of $600,000, or 2 cents per diluted share, on revenue of $8.5 million in its second quarter of fiscal 2016, which ended March 31.

Indus Navy Deal Could Be Worth $2.92M to Contractors

Indus Technology Inc. said on May 3 that it is leading a team that received a U.S. Navy contract that could we worth up to $2.92 million over five years, if the Navy exercises all of its options.

Cubic Reports Sales of $366 Million for Q2

Cubic Corp., the defense contractor that also makes fare-collection technology for mass transit, reported net income of $10.1 million, or 38 cents per diluted share, on sales of $366 million for the second quarter of its 2016 fiscal year.

Slight Increase Boosts a Strong Local Economic Index

The University of San Diego’s economic index rose 0.4 percent in March to a level not seen since the exuberant days of 2005-2007.

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System Takes Stock of Pharmacy Inventory and Processes

TECH: Carlsbad Co. Uses Radio Frequency in Labels To Help Monitor Meds

Tiny numbers on tiny bottles, which need an eagle eye. Trays and tackle boxes full of medicine, which need a good check before they go back into an operating room. Those are some of the less-glamorous details in the life of a pharmacy technician — details that MEPS Real-Time Inc. wants to automate.

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Tide Turns in I.B.

DEVELOPMENT: Area’s Coastal Assets Effectively Used In Redevelopment

People with memories of Imperial Beach who have not seen the place in 10 or 20 years may be in for a surprise.

Navy Awards Coffman Specialties Inc. $18 Million Contract

The U.S. Navy awarded Mira Mesa-based Coffman Specialties Inc. an $18 million task order for runway repair and aircraft lighting repair at Naval Air Station Fallon in Nevada, east of Reno.

Callaway Golf Reports Q1 Net Income of $38.4 Million

Callaway Golf Co., the Carlsbad maker of clubs, balls and golf accessories, reported net income of $38.4 million, or 40 cents per diluted share, on net sales of $274.1 million during its first quarter, which ended March 31.

Kratos Subsidiary Working With Government of Oman

Kratos Defense & Security Solutions Inc. said April 26 that its Kratos ISE subsidiary was working with the government of Oman on an advanced space radio monitoring system.

Nimble Software Systems Receives $4 Million Series A Investment

Carlsbad-based Nimble Software Systems Inc. said April 25 that it received $4 million in series A funds from Australia-based Seek Ltd. The funding round closed April 16.

S.D. Defense Industry Prospers Under GOP Budget

Republicans on the House Armed Services Committee unveiled a Pentagon budget proposal for fiscal 2017 that modifies the Obama administration’s.

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FAA Gives Clearance for Qualcomm Drones to Take Flight

AVIATION: Experiment Collects Data For Flying In National Airspace

The scene looked very official on a recent Thursday at Qualcomm Inc.: there was a pilot in command, a visual observer and flight safety people. Crew members wore reflective vests, hardhats and safety glasses, carried checklists and kept an ear out for radio traffic. All for some experiments on a rolling patch of suburban lawn.

‘Excess Infrastructure’ Report Prompts Concerns over Closures

The 2017 Pentagon budget will come into a little more focus later this month as the House Armed Services Committee looks over the National Defense Authorization Act. It’s a big deal because the Pentagon spends a lot in San Diego County: $24.8 billion in fiscal 2015. That’s according to analysis by SDMAC, the San Diego Military Advisory Council.

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Inventor Sees Technology as a Guide For Visually Impaired

SOFTWARE: Agents Would Assist Clients Through Cameras, Data

Suman Kanuganti is trying to break down barriers.


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