New L.A. Marathon Route Announced
Mayor Antonio Villaraigosa announced the new course for the 2007 City of Los Angeles Marathon. The new 26.2 mile race course will begin in the San Fernando Valley at Universal Studios Hollywood and end at the Los Angeles Central Library. The marathon route now will run along Hollywood and Sunset Boulevards, passing by the Hollywood Bowl, the Coliseum, Los Angeles Convention Center and the Staples Center. The route change came about after discussions between members of the city’s faith-based community due to the prolonged closing of certain streets preventing access to some neighborhood churches, the Mayor’s office said.
Qualstar chief financial officer resigns
Qualstar Corp. said Vice President and Chief Financial Officer Fred Boyer resigned. The Simi Valley-based manufacturer of automated tape storage systems said, Boyer’s resignation was effective August 18, 2006. Boyer, who has served as Qualstar’s CFO since October 2002, stated that he has accepted a position with another, unnamed company not in direct competition with Qualstar. According to the company, if a replacement hasn’t been found, CEO William Gervais will assume Boyer’s duties until one is found.
Kilroy Inks New Office Space Deal
Kilroy Realty Corporation said it has signed an 18.5-year lease with Scripps Health for a new 146,000-square foot office building to be built at Innovation Corporate Center, just off of Interstate 15 in Rancho Bernardo. The deal is estimated to be approximately $53 million and is scheduled to be an eight-building, 616,000 facility.
Earnings Roundup:
Hi-Shear Riding High on Earnings
Hi-Shear Technology Corp. reported year-end net income for fiscal year ending May 31 of $2.3 million (34 cents per share), up 970 percent compared to $215,000 (3 cents) over last year. Revenue for the Torrance-based satellite component maker rose 31 percent to $21 million.
Ducommun Profits Drop, Sales Increase
Ducommun Inc. reported second-quarter net income of $3.2 million (31 cents per share),down 22 percent (40 cents) for the same period a year earlier. Revenue for the Los Angeles-based defense contractor rose 24 percent, to $77 million.
Broadway Financial Profit Increases
Broadway Financial Corp. reported second quarter net income of $344,000, (or 19 cents per share), up 8.5 percent for the same period a year earlier (19 per share). Net interest income for the Los Angeles-based bank was up 3.9 percent to $2.4 million.
