Business Briefs: Grill Concepts, Sports Club, CalAmp, Pacific Energy Partners, Northrop, Recom Managed Systems

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– Grill Concepts Inc.

said Monday that the Nasdaq has warned its stock is in danger of being delisted because the Los Angeles-based casual dining restaurant chain failed to file its Form 10-K annual report. The company said the Nasdaq will delist it at the opening of business on April 25 unless it requests a hearing, which it says it intends to do should it be unable to issue its annual report by that date.


On March 31, Grill Concepts said it was delaying the report to get more time to review its lease accounting methods. The operator of the Daily Grill chain of restaurants said it would also adjust financial statements for 2002 and 2003. The company said it does not expect net income to be affected.



– Sports Club Inc.

said it would delay reporting its year-end and fourth-quarter 2004 results to spend more time reviewing its lease accounting practices and reporting issues related to its sale of nine of its sports complex locations. The sale was announced on Feb. 10. The L.A.-based sports and fitness complex owner said the holdup is related to the reporting of landlord incentives under operating leases and to assets held for sale.


The company said it would file its annual report prior to May 16, instead of by the original due date of April 15.



– CalAmp Corp.

acquired the business and certain assets of privately held Skybility, a Carlsbad-based cellular transceiver developer. Under the terms of the agreement, CalAmp will make a cash payment of $4.9 million and a future payment within 12 months in the range of $2 million to $4 million. No liabilities were assumed in the acquisition.


The acquisition gives CalAmp, an Oxnard-based wireless products provider, a number of products that work on different cellular network platforms, the company said in a press release.



– Pacific Energy Partners

received approval to repair a pipeline that leaked crude oil into Pyramid Lake, just north of Los Angeles, on March 23. The pipeline owned by the Long Beach-based subsidiary’s Pacific Pipeline System has been shut down since the spill, which was caused by a rupture related to damage from winter storms. The repair work will begin immediately and is expected to take a week to complete.



– Northrop Grumman Corp.

said the U.S. Army extended the contract for its Airborne Standoff Minefield Detection System. The expansion adds $26 million to the contract’s original $55 million amount. The program designs and operates unmanned aerial vehicles that detect mines.



– Recom Managed Systems Inc.

named Pamela Bunes as its new chief executive officer and president. Bunes, a 15-year career veteran with Johnson & Johnson, was working as a consultant to the Studio City-based medical device developer.


Lowell Harmison, who has been interim chief executive since Marvin Fink retired on March 22, will continue as the co-CEO through a transition period and remain a board member.

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