said its second-quarter mortgage production rose 51 percent from a year ago to a record $14.2 billion, rising sharply in comparison to overall industry volume, which is expected to be flat at $746 billion. The Pasadena-based holding company for IndyMac Bank said that based on that volume, its industry market share should grow to nearly 2 percent. The company expects earnings per share for the second quarter to be at or above $1.10, the midpoint of its previous forecast. The average analyst estimate for the second quarter is $1.09 per share.
& #8226; Hot Topic Inc. said that June revenue fell 3.3 percent at stores open at least a year. The results were slightly worse than the 3.2 percent average decline forecast by analysts. Total sales reached $57 million, an 11 percent increase over the year-ago period.
& #8226; j2 Global Communications Inc. acquired the assets of Data On Call, LLC. Terms of the acquisition were not disclosed. The L.A.-based provider of outsourced communications services said the key assets include the UniFax brand and its subscriber base, as well as the technology to provide features such as dynamic delivery options via FTP, Web-post with XML and barcode data capture.
& #8226; GNP Computers agreed to be acquired by Pinnacle Data Systems, Inc. As part of the agreement, Pinnacle will acquire the assets and assume certain liabilities of the Monrovia-based privately held computer system manufacturer. Following the acquisition, which is expected to close during the third quarter ending Sept. 30, GNP will be integrated into Pinnacle. Financial details of the deal were not disclosed.
& #8226; Digital Insight Corp. said it completed its second $25 million stock repurchase program within the past 12 months. The Calabasas-based online banking provider repurchased approximately 1.04 million shares during the quarter ended June 30 at an average cost of $24.05 per share. The program was initially announced April 26 following completion of an earlier $25 million stock repurchase during the first quarter ended March 30.
& #8226; Semtech Corp. announced that its board of directors authorized an additional $50 million for its current stock buyback program. The initial $50 million was authorized when the program was established in February 2004. The Camarillo-based semiconductor maker has spent more than $100 million in the last five years to repurchase shares of its common stock through various buyback programs.
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