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Regional Report

ESCONDIDO: Midwest Business Pays $2.5M For Heart Monitor Maker

Minnesota-based IntriCon said Aug. 13 that it is purchasing Datrix, which makes portable heart monitors, for $2.5 million.

Publicly traded IntriCon used cash for half the acquisition, and funded the rest using a $1.05 million subordinated note payable in a three-year span and 75,000 shares of IntriCon common stock. IntriCon will operate Datrix as a wholly owned subsidiary, with Datrix’s management team continuing to run the business.

IntriCon, formerly known as Selas, makes wearable medical devices, such as hearing aids, and tiny electronics parts.

It plans to unveil a new wireless cardiac monitoring device in November that combines Datrix technology.

IntriCon reported Aug. 13 second-quarter net sales of $14 million, versus net sales of $17.5 million for the 2008 second quarter. Its second-quarter net loss was $598,000 compared with net income of $410,000 for the year-ago period.

IntriCon, which trades under the symbol IIN on Nasdaq, said the acquisition of Datrix gains “us entry into what we believe to be an $80 million” cardiac diagnostic monitoring market.

— Heather Chambers

VISTA: Sonic Driving Burger Joint Into Critical Corner of Town

Work on a Sonic drive-in restaurant began this month at the corner of Main Street and South Santa Fe Avenue, and should open in November.

The 1950s-style hamburger chain, based in Oklahoma City, has become a cult favorite with its roller-skating waitresses, and attracts many repeat customers.

“That’s a critical corner of our downtown and we’re excited about having Sonic there because we anticipate it drawing a lot of folks from all over the county into our downtown,” said Bill Rawlings, the city’s redevelopment director.

Max Gelwix, principal of D&M Investment Partners, says his firm has the rights to build nine Sonics in the county, and expects to open the next one in June. It opened the county’s first Sonic this year in Santee.

For the third quarter ended May 31, Sonic reported revenues declined 10 percent to $191.9 million from the year-earlier period. Net income for the quarter was $16.8 million, declining slightly from $17.2 million. Its stock trades under the symbol SONC on Nasdaq.

— Mike Allen

ENCINITAS: Spa Shows Caring Face, Helps Cancer Patients, Survivors

Facelogic International has spas throughout the nation.

Facelogic Spa began offering free facials to cancer patients and survivors last week during an event that took place at its spa in this city.

Owner Jill Johnson hosted the event, which gave patients and survivors in attendance a free 50-minute signature facial. The spa says it intends to hold similar events on a designated day every other month. For more information, call the spa at 760-840-3223.

Facelogic International has spas throughout the nation.

— Heather Chambers

NATIONAL CITY: Rich Ice Cream Retailer Seeks More Riches in South County

Paciugo Gelato Caffe, a chain that specializes in Italian gelato or rich ice cream and is based in Dallas, opened its first store in San Diego County last month at 3030 Plaza Bonita Road.

Paciugo (pronounced pah-CHOO-go) offers 40 gelato and sorbetto flavors that follow authentic Italian recipes and use traditional ingredients, it says.

Prices range from $3.49 for a single serving of gelato to $5.19 for specialty items.

— Mike Allen

OCEANSIDE: Seeking SomethingTUDU? Check Out This Database

Lance Worth of Vista has launched SomethingTUDU.com with the goal of providing a nationwide online event calendar.

Interested users can search the SomethingTUDU database for events such as garage sales, fundraisers, lectures and classes, fairs, sporting events, open houses, theatrical productions, job fairs and whatever else promoters care to list. Listings cost $1.

— Brad Graves

SAN DIEGO: North Chamber Looks South to Attract Firms to Region

The San Diego North Chamber of Commerce has joined forces with other business organizations to help form a trade region, dubbed the San Diego/Tijuana Mega Region, that crosses into northern Baja California.

The idea is promote the nearby Tijuana maquiladoras with their skilled but inexpensive labor force as a way to attract businesses to the area. In theory, companies looking to relocate or save time and money on production and transportation would be interested, backers say. They include the Tijuana Economic Development Corp. and the Mexican Consulate.

The chamber says it’s the third-largest chamber in the county, representing 1,000 member businesses along the Interstate 15 corridor.

— Connie Lewis

CARLSBAD: Phoenix Footwear Group Sees Quarterly Net Loss Widen

Phoenix Footwear Group has reported a net loss of $5.1 million during the second quarter, or 63 cents a share, versus a loss of $2.1 million, or 26 cents a share, in the same quarter of 2008.

Stock in the maker of men’s and women’s footwear and accessories is traded on the New York Stock Exchange as PXG. It also reported sales of $4 million, down 36 percent from sales of $6.2 million during the second quarter of fiscal 2008.

— Connie Lewis

POWAY: Golf Shaft Manufacturer Watches Sales Land in Rough

Aldila, a maker of carbon fiber golf shafts, has reported a net loss of $627,000 on sales of $10.6 million for the three months ended June 30. In the same quarter one year ago, the manufacturer reported a net loss of $523,000 on sales of $13.6 million.

It trades on Nasdaq under the symbol ALDA. The stock’s 52-week range, as of Aug. 17, was $2.14 to $10.

— Brad Graves

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