DexCom, Tandem to Develop Insulin Pump
Two San Diego medical device companies, Dexcom Inc. and Tandem Diabetes Care, on Thursday said they’ll be teaming up to develop and commercialize a new diabetes health care product that will incorporate technology from both companies.
Qualcomm Reports Soaring Profit, Revenue
Qualcomm Inc. reported Feb. 1 that its first-quarter net income increased 20 percent from the prior year’s first quarter to $1.4 billion, while its revenue ballooned 40 percent to $4.68 billion during the same period.
99 Cents Only Opens 17th Local Store
Deep-discount retailer 99 Cents Only Stores opened its 17th San Diego County location on Feb. 2, at 2611 Market St. in San Diego.
Company Raises Funds to Repay Bank Debt
Glacier Water Services Inc. said it raised $20 million through the sale of common stock and subordinated debt.
Local Hotel Backs REIT’s $40M Loan
Virginia-based Apple REIT Eight Inc. has received a $40 million loan from Wells Fargo Bank secured by two hotels owned by the investment trust, including a Residence Inn By Marriott in Oceanside.
Business-Focused Nonprofit Moves to Liberty Station
The California Southern Small Business Development Corp., a nonprofit organization that offers loan guarantees, has left 2,400 square feet in downtown San Diego for 1,700 square feet in Liberty Station.
Websense Reports Higher Profits, Revenues
Websense Inc., a San Diego provider of Internet security software, reported Jan. 31 that its fourth-quarter net income was $10.4 million, compared with net income of $8.9 million in the like period of 2010.
Local REIT Plans Offering of Preferred Stock
Realty Income Corp. announced Jan. 31 that a planned public offering of 13 million shares of preferred stock has been priced at $25 per share.
Vista Software Company Announces Record Quarter
BP Logix Inc., a developer of business process management software that accelerates time-to-value, announced Feb. 1 a record quarter for the period ending Jan. 31.
Nationwide Search Begins for North EDC Chief’s Replacement
The San Diego North Economic Development Council has accepted the resignation of Gary Knight, its president and CEO, according to a statement from the council.
Five Guys Burger Chain Opens 10th Local Outlet
Five Guys, the national burger chain that began opening restaurants in California two years ago, opened its first restaurant in Escondido on Jan. 30.
Outlook for S.D. Economy Stays Positive for 2012
An index measuring San Diego’s economy increased by 0.6 percent in December, the largest rise since May, and the first time since then that it showed gains in consecutive months, according to a Jan. 31 report.
Illumina CEO Urges Stockholders to Hold Off on Taking Action on Takeover Bid, as Roche Seeks Control of Board
Illumina Inc. President and CEO Jay Flatley on Jan. 31 again urged stockholders to “take no action at this time” on Swiss drugmaker Roche’s attempt to acquire the San Diego life science company.
Trius Therapeutics Raises $52M in Stock Offering
Trius Therapeutics Inc. said it has sold 9.9 million shares of its stock, raising a total of $52 million for clinical trials, research and development, and other general corporate purposes.
Local Firm, Japanese Builder Acquire 28 Housing Communities
Newland Real Estate Group LLC has teamed with an affiliate of Japan’s largest homebuilder to acquire a portfolio of 28 master-planned communities in the United States.
Kratos Lands Contract Extension From Air Force
Last year’s purchase of Integral Systems is bearing fruit for Kratos Defense & Security Solutions Inc.
High-Tech Firm Adds Business Leaders to Board
Micropower Technologies, a San Diego maker of wireless surveillance cameras, named two heavy hitters from the local ranks of high-tech executives, Jim Brailean and Kevin Hell, to its board of directors, the firm said Jan. 31.
San Diego Law Library Completes Renovation
The San Diego Law Library announced Jan. 30 the completion of a $5 million, yearlong renovation of the downtown Law Library at 1105 Front St.
Outlook for S.D. Economy Stays Positive for 2012
An index measuring San Diego’s economy increased by 0.6 percent in December, the largest rise since May, and the first time since then that it showed gains in consecutive months, according to a Jan. 31 report.
ResMed Posts Higher Earnings in 2Q
ResMed Inc. said its revenue grew 9 percent to $333 million in the second fiscal quarter, even as research and development costs climbed 24 percent.
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