Southern California Boeing Facilities Post Loss
Boeing Co. said that the aerospace company’s Integrated Defense Systems unit, which has a strong presence in both Orange and L.A. counties, saw a $309-million drop in profit for the second quarter. The IDS unit’s second-quarter total sales declined less than one-half percent to $7.77 billion from $7.8 billion in the second quarter last year. Overall, Boeing recorded a second-quarter loss of $160 million on revenue of $14.99 billion, compared with net income of $566 million on revenue of $14.68 billion in the same period last year.
Image Lands Deal with S’More
Image Entertainment Inc., said that it has signed a multi-year CD, DVD and digital distribution agreement with Shearman Oaks-based S’more Entertainment. The exclusive agreement calls for S’more to deliver a minimum of 24 new programs for release each year. Additionally, on January 1, 2007, Chatsworth-based Image will acquire the exclusive CD, DVD and digital distribution rights to S’more’s currently released content. That content includes classic television shows, comedy specials, music performances and special interest programming. Terms of the deal were not disclosed.
Tetra Tech Venture Gets 10-Year Contract
SulTRAC, a joint venture between Tetra Tech Inc. and San Diego’s Sullivan International Group, won a $360 million, 10-year Environmental Protection Agency contract to investigate, design and oversee environmental cleanups, the company said. The deal is for work in the EPA’s Region 5, which includes Minnesota., Wisconsin, Illinois, Indiana, Ohio, and Michigan.
MRV Communications Cuts 2Q Loss by 36%
MRV Communications Inc. reported net loss for the second quarter of $2.6 million, (-2 cents per share) a 36 percent improvement over the $4.1 million, (-4 cents) for the same period a year earlier. Revenues for the Chatsworth-based communications rose 35 percent to $87 million.
Sketchers Profits Up
Sketchers USA Inc. reported second-quarter net income of $17.6 million (40 cents per share) a 10.7 percent improvement over $15.9 million, (38 cents) for the same period a year earlier. Sales for the Manhattan Beach-based shoe retailer rose 10.7 percent to $292 million.
