Stories for May 2013

Friday, May 31

ASML Holding NV Completes Acquisition of Cymer for $3.7B

ASML Holding NV announced on May 30 that it completed its acquisition of Cymer, the San Diego-based company that makes complex lasers used in the manufacture of microchips.

Encore Capital Group to Purchase 50.1% of Equity in Cabot Credit Management

Encore Capital Group Inc., the San Diego collector of defaulted credit card debt, said it agreed to buy 50.1 percent of the equity in Cabot Credit Management, a United Kingdom and Ireland-based consumer debt collection business for about $192 million.

Sequenom Inc. Enters Licensing Agreement with Laboratoire Cerba

San Diego genetic analysis company Sequenom Inc. has announced that it has entered into technology licensing and marketing agreements with French testing service Laboratoire Cerba for its prenatal diagnostics product.

Local Apartment Complex to Be First to Receive 100% of Its Power from Solar

The recently opened Solterra EcoLuxury Apartments in Scripps Ranch will receive 100 percent of its power from solar modules — the first apartment community in San Diego to rely solely on energy derived from the sun.

Index Measuring San Diego’s Economy Rises 0.5% in April

An index measuring San Diego’s economy rose 0.5 percent in April, continuing a streak of eight consecutive months that it has increased.

Thursday, May 30

Kratos Defense & Security Solutions Receives $4.1M Contract Award

San Diego-based Kratos Defense & Security Solutions Inc. said that its Electronic Products Division recently received a $4.1 million contract award.

Vista Equity Begins Tender Offer Process for Websense

Vista Equity Partners, the Texas private equity firm that recently agreed to buy San Diego-based Websense Inc. for $906 million, said its affiliate firm, Tomahawk Merger Sub Inc., began the tender offer process of acquiring all the outstanding shares of Websense at $24.75 per share, net to the seller without interest.

U-T San Diego Ceases Publishing The Californian

U-T San Diego announced Tuesday it will stop publishing The Californian, a daily section which covers Temecula and southern Riverside County.

Nucelis Inc. Holds Ribbon-Cutting Ceremony for New Fermentation Plant

San Diego biotech Nucelis Inc. held a ribbon-cutting ceremony Wednesday for its new fermentation plant.

Michael R. Cunningham Named National University President

National University has named Michael R. Cunningham president, effective July 1.

Wednesday, May 29

Northrop Grumman Awarded $15.3M Contract Modification from U.S. Navy

The U.S. Navy recently awarded Northrop Grumman a $15.3 million contract modification to upgrade software on its MQ-4C Triton unmanned aircraft from Windows XP to Windows 7.

Sempra Signs Agreements for LNG Export Plant

Sempra Energy, parent of San Diego Gas & Electric and other subsidiaries, said it signed a 20-year tolling capacity and joint venture agreements for the development and operation of a liquefied natural gas export plant in Louisiana.

Overland Storage Evaluating Proposal From Cyrus Capital

Overland Storage, the San Diego provider of data storage products, said it received a proposal from Cyrus Capital Partners LP, for a potential business combination with a firm Cyrus owns, Tandberg Data Sarl.

Unit of General Atomics Finds European Distributor for Aircraft De-Icing Fluids

A unit of San Diego-based General Atomics says it has a European distributor for its aircraft de-icing fluids.

Magda Marquet Joins Sente Inc.’s Board of Directors

Sente Inc., a “cosmeceutical” skin care company launched last year by a cadre of San Diego biotech executives, has appointed another industry veteran to its board of directors.

Tuesday, May 28

Cubic Corp. Receives $75.8M Training Deal from U.S. Army

The U.S. Army recently awarded Cubic Corp. a $75.8 million training deal.

ICEE Co. Fleet to Use SmartDrive Programs

SmartDrive Systems, the San Diego-based provider of driving performance solutions, announced that The ICEE Co. will be using its SmartDrive Safety and Fuel programs across its entire fleet.

Graham Downes Architecture Inc. to Close Its Doors

Graham Downes Architecture Inc., whose namesake owner died last month, said the loss of its visionary founder is too great to overcome and will close its doors effective June 30.

Evoke Pharma Inc. Registers for IPO

Carmel Valley-based Evoke Pharma Inc. recently registered for an initial public offering of stock. The company said in its Securities and Exchange Commission filing that it hopes to raise as much as $23 million.

Cubic Receives $21M Contract for Training System

San Diego-based Cubic Corp. said recently that it received a $21 million contract to provide a virtual small-arms training system. The U.S. Army is handling the deal for an unspecified foreign military customer.

The Bucks Stop Here During Tourist Season

Memorial Day signaled the official beginning of the most important season for the San Diego economy—tourist season.

Business Events Calendar

Business events in and around San Diego County for the week of May 27-May 31.

Monday, May 27

Firm’s Strategic Planning Is Action-Oriented Force for Change

SOFTWARE: Cloud-based Systems Are Marketed To Consultants and Planners

Every business and organization needs a strategic plan, some roadmap outlining what an organization’s goals are and how it expects to achieve them. But creating a strategy and putting it into action are two vastly different things.

Hilton Renovation Puts Property’s Bay-Front Beauty on Display

Real Estate Column

The Hilton San Diego Bayfront hotel recently completed extensive outdoor renovations, aimed at better capitalizing on the downtown property’s waterfront location.

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STEM Education Partnerships Help Us Prosper

Commentary

JPMorgan Chase is doing it; providing a pathway from poverty to careers for urban young adults as a corporate supporter, internship host and employer. Qualcomm, Google, and Intel are all doing it; using competitions to incite discovery and lower health care costs.

Immigration Reform Can Work for Us All

Commentary

Last year, members of the New Majority California, a political action committee, drafted an immigration policy statement that outlined key objectives for achieving meaningful immigration reform

Art Gala Brings a Wave of Enthusiasm for Surfrider Causes

Kudos/Giving

The San Diego County chapter of the Surfrider Foundation held the 13th Annual Art Gala at Paradise Point Resort & Spa, which raised more than $25,000. The funds raised will be used to support local programs offered by the foundation.

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Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

Charles Dunn Co. announced the $3.85 million sale of Crosby Square, a 13,414-square-foot retail property with two second-story apartment units. Situated in the southern Downtown San Diego submarket, the property is located at 1879 Logan Ave., just off the I-5 Freeway and near the Coronado Bridge.

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Executive Profile: Daniel Broderick

Daniel Broderick is president and CEO of Cassidy Turley San Diego, a full-service commercial real estate firm.

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Local Office Submarkets’ Vacancy Rates Vary By Region and Class

REAL ESTATE: Choices Abound for Class B and C, Class A Remains Scarce

San Diego County’s real estate recovery is being felt in different ways, depending on the neighborhood. Here’s how local commercial brokers view trends in some prominent local office submarkets.

Mapping Out a Real Estate Recovery

PROPERTY: Commercial Comeback Is Uneven as Sector Charts New Course

The commercial real estate recovery is progressing steadily in San Diego County so far in 2013, but local experts are still curbing their expectations as to when things might switch into a higher gear.

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Regional Report

News and notes from communities around San Diego County

For the first time, North County Transit District will offer daily late-night Coaster train service during the San Diego County Fair.

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News in Brief

Breaking news from www.sdbj.com

San Diego-based MOGL has added Hawaiian Airlines to its roster of companies participating in its tech-enabled loyalty platform that issues cash rewards to customers at restaurants.

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Torrey Pines Bank Hits 10-year Mark as Area’s 3rd Largest Bank

Finance Column

Torrey Pines Bank made a splash last year when it passed that $2 billion asset mark, but it shrunk a bit in the first quarter to $1.95 billion, still fairly big and San Diego’s third largest commercial bank.

General Dynamics Nassco Delivers USNS Montford Point to U.S. Navy

General Dynamics Nassco, the San Diego-based shipbuilder, said it delivered the USNS Montford Point, the first in a new class of ship called a Mobile Landing Platform to the U.S. Navy.

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Venture Capital Conference Sees a Changing Investment Picture

FINANCE: JOBS Act, Financing Alternatives Now Part of Landscape

Twelve life science firms went public in all of 2012, with only one from San Diego — Regulus Therapeutics Inc. So far in 2013, 11 life science concerns have gone public — two from San Diego, Ambit Biosciences Corp. and Receptos Inc. — and at least two more are preparing public stock offerings within the next few months.

Developer’s Plan Aims to Create Downtown Urban Quarter

DEVELOPMENT: Creative Mix of Residential, Offices, Retail, Restaurants, High-Tech

A development team that includes locally based Lankford & Associates Inc. has unveiled plans for an East Village mixed-use project that its proponents hope will become downtown San Diego’s next “urban quarter” over the next decade.

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ViaSat’s Capacity Will Soar With Next Satellite

TECH: Effort With Boeing Will Greatly Boost Internet Coverage

ViaSat Inc. recently took the wraps off its plans to launch a second satellite to provide broadband service to North America and surrounding regions.

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Dell Deal Is a High Point For ScaleMatrix’s Cloud

TECH: Firm Expects Significant Revenue, Exposure as a Result

Dell will begin selling cloud computing services from San Diego-based ScaleMatrix Inc. The big computer manufacturer recently chose ScaleMatrix as one of three strategic partners to provide public cloud computing services in North America.

Websense’s Potential Recognized in Purchase

Cyber: Buyer’s Experience, Capital Should Be Big Pluses

The proposed acquisition of Websense Inc. by Vista Equity Partners announced last week could result in a lot of upside for the Web security business firm, said several industry analysts.

OtterBox, LifeProof See Case for Consolidation

TECH: Local Firm Sold for $325M, Ending Legal Dispute

Colorado-based OtterBox, which makes protective cases for smartphones and tablets, has acquired LifeProof, a similar business from San Diego, for $325 million.

Product Placement

RETAIL: Sony Deploys Variety of Store Formats As Retail World Changes

At places like Fashion Valley mall, locally based Sony Electronics has recently been busy adjusting to a world in which consumers not only are changing up the way they interact with their gadgets — increasingly outside the home, and in the palm of their hand — but also how they buy them.

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Biotech IPOs Seen as Boosting Confidence

FINANCE: Shortage of Capital Hampers Life Science Sector, Down 14% From 2012

Is the years-long freeze on life science investing beginning to thaw? It’s still a bit too early to say for sure, but if the recent successful initial public stock offerings of two San Diego companies — Ambit Biosciences Corp. and Receptos Inc. — are any indication, less icy conditions are ahead.

Tradeshow May Have Found a Second Home

BUILDING: Local Debut Of Homebuilder Conference Examines Industry Issues

“It’s sort of like Comic-Con for the home-building industry,” said Borre Winckel, president and CEO of the Building Industry Association of San Diego County.

Restaurant’s 30th Anniversary Is Something to Savor

SDBJ Insider

Birthday wishes are in order. Restaurateurs Martin and Cindy Blair of Kansas City Barbeque held its 30th anniversary celebration aboard the USS Midway Museum with a private affair of several hundred invitees recently.

Friday, May 24

Public Comment Sought on $1.7B Trolley Extension

The San Diego Association of Governments has scheduled June public meetings to discuss the planned $1.7 billion extension of the San Diego trolley system to the University City community.

Sempra Energy Reduces Earnings Per Share Guidance for 2013

Sempra Energy, parent of San Diego Gas & Electric and other subsidiaries reduced its earnings per share guidance for 2013 to $4.30 to $4.60, down from the earlier guidance range of $4.30 to $4.80.

Cricket Communications to Launch New Ad Campaign

Cricket Communications, the main subsidiary of San Diego-based Leap Wireless International Inc., the flat rate cellphone carrier, said it’s challenging wireless giants Verizon and AT&T in its new ad campaign.

Carlsbad Residential Lots Sold for $5M

Arizona-based Taylor Morrison Home Corp. has purchased 32 single-family residential lots in Carlsbad’s La Costa Town Square development for $5 million.

Walmart Plans to Hire 100,000 Veterans

Walmart Stores Inc. is scheduled to launch a hiring program focused on military veterans on May 27, in which it plans to hire more than 100,000 veterans nationwide over the next five years.

Thursday, May 23

LifeProof Acquired by OtterBox for Undisclosed Price

Colorado-based OtterBox announced it has acquired San Diego-based LifeProof. Financial terms of the deal were not disclosed.

Northrop’s Unmanned Navy Drone Triton Makes Maiden Flight

Triton, the U.S. Navy variant of Northrop Grumman’s high-altitude unmanned spy aircraft, made a 90-minute maiden flight May 22 in Palmdale.

Marriott at UTC Completes $17M Renovation

The San Diego Marriott La Jolla in University Towne Center has completed a $17 million renovation, including a redesign of it its lobby and guest rooms.

General Dynamics Nassco Delivers USNS Montford Point to U.S. Navy

General Dynamics Nassco, the San Diego-based shipbuilder, said it delivered the USNS Montford Point, the first in a new class of ship called a Mobile Landing Platform to the U.S. Navy.

BAE Systems Awarded Contract for Advanced Data Management System

The National Geospatial-Intelligence Agency awarded BAE Systems the iSToRE XP contract to provide advanced data management capabilities in support of National System for Geospatial-Intelligence sites and users.

Wednesday, May 22

Dell Chooses ScaleMatrix to Be One of Its Three Strategic Partners in Cloud Computing

Dell has selected San Diego-based ScaleMatrix Inc. as one of three strategic partners to provide public cloud computing services in North America.

Encore Capital Group Closes on $100M Credit Facility

Encore Capital Group Inc., the San Diego collector of defaulted credit card and other types of debt, said it closed on a $100 million credit facility with Wells Fargo Bank to purchase tax lien certificates from cities in several states.

MOGL Adds Hawaiian Airlines to Roster of Its Loyalty Platform

San Diego-based MOGL has added Hawaiian Airlines to its roster of companies participating in its tech-enabled loyalty platform that issues cash rewards to customers at restaurants.

Sorrento Therapeutics’ NIH Grant for Staph Infection Research Renewed

Sorrento Therapeutics Inc. announced today that its research grant from the National Institute of Allergy and Infectious Diseases, a division of the National Institutes of Health, supporting the development of novel human antibody therapeutics to combat Staphylococcus aureus or Staph infections, including methicillin-resistant S. aureus (MRSA), was renewed for the second year of a two year Phase I grant award.

Council Approves San Diego River Park Master Plan

San Diego City Council has approved a master plan intended to guide future development along a 17.5-mile stretch of the San Diego River. Long-term plans call for a river-long park, stretching from the San Diego River headwaters in Julian, to the Pacific Ocean at Ocean Beach.

Robert Horsman to Join Torrey Pines Bank as Market Executive

Robert Horsman, the former CEO and president of San Diego National Bank, was hired by Torrey Pines Bank as market executive for the San Diego region.

Tuesday, May 21

Websense Inc. to Be Acquired By Vista Equity Partners for $1B

San Diego Web filtering software maker Websense Inc. signed a definitive agreement to be acquired by Vista Equity Partners, a national private equity firm based in Austin, Texas, for $25.75 per share in cash or an aggregate price of about $1 billion, the companies said.

San Diego-Based Effector Therapeutics Raises $45M in Series A Financing

Effector Therapeutics, a San Diego-based biopharmaceutical company, announced that the company has raised $45 million in a Series A financing round.

Maxwell Technologies Receives Another Notice of Noncompliance from Nasdaq Exchange

Maxwell Technologies, the San Diego maker energy storage devices used in hybrid buses and other applications, said it received another notice from the Nasdaq exchange that the company is not in compliance with listing requirements due to its not filing timely financial reports.

Local Firm Acquires Arizona Apartments for $16.4M

San Diego-based investment firm Pathfinder Partners LLC has purchased a 144-unit apartment community in Tempe, Ariz., for $16.4 million.

Transit District Resumes Sprinter Train Service

North County’s regional Sprinter light-rail train service has resumed after a suspension of more than two months, after officials addressed maintenance issues affecting braking systems.

Monday, May 20

Overland Storage Reports Revenue of $11.6M for Q3

Overland Storage, a San Diego provider of data management and backup systems, reported fiscal 2013 third quarter revenue of $11.6 million, compared with revenue of $15.2 million for the like quarter of 2012.

San Diego Unemployment Rate Decreased to 7 Percent in April

San Diego’s unemployment rate decreased to 7 percent in April, down from 7.7 percent in March, and below the 8.6 percent it was in April 2012, according to the latest report from the state’s Employment Development Department.

Developers Debut Plans for ‘Makers Quarter’ in East Village

Developers have unveiled plans for an urban mixed-use neighborhood within East Village, called Makers Quarter, which would be part of a larger planned “I.D.E.A District” geared to attracting design and technology-related companies and workers.

Spy Inc. Reports Net Loss of $721,000 for Q1

Carlsbad-based Spy Inc., which produces sunglasses and goggles for youthful consumers and action sports enthusiasts, reported a net loss of $721,000 on net sales of $9 million during the first quarter of 2013.

Mercedes-Benz Dealership to Open in Temecula

Temecula is getting a Mercedes-Benz dealership of its own.

Business Events Calendar

Business events in and around San Diego County for the week of May 20 - May 26.

Defense Sector to See Mergers, Acquisitions

DEFENSE: Budget Cuts May Change Playing Field, Players

With the U.S. government tightening its grip on its purse strings and defense spending in decline, there are likely to be mergers and acquisitions ahead for military contractors.

Key Ingredients

BEVERAGE: Suja Juice Assembles Right Recipe For Success in the Sector

The rapid growth of San Diego’s Suja Juice Inc. is testament to the trendiness of juicing — tapping raw vegetables and fruits for belly-flushing cleanses.

Developers Are Taking $90M Step Forward

PROPERTY: East Village Transformation to Create Tech, Design Hub

Lowe Enterprises and locally based I.D.E.A. Partners recently moved forward with plans to develop a $90 million mixed-use development in East Village, considered the first element in a long discussed strategy to turn the downtown neighborhood into a job-creating hub for cutting-edge technology and design firms.

Northrop’s Drone Conducts 1st Carrier Launch

DEFENSE: Follow-On Project to Be Huge For Winning Bidder

Northrop Grumman recently helped the U.S. Navy launch an unmanned, strike-fighter sized aircraft from the deck of an aircraft carrier, for the first time.

Entrepreneurs Will See If They Are Up To the Challenge

SDBJ Insider

Entrepreneurialism is alive and well in the region if if the number of events on the horizon is any indication of a hubbub of activity. Two deadlines are approaching for the seventh annual UC San Diego Entrepreneur Challenge, sponsored by the Rady School of Management.

Hope Is on the Horizon For More Cruise Visits

TRAVEL: Good Signs Include Line’s Mexico Investment Plans

Local officials say potential future expansion in Mexico by Carnival Cruise Lines could prove crucial to reviving San Diego’s recently sagging cruise ship industry.

Company Makes Its Texas Move Complete

MANUFACTURING: Change Made Economic Sense

Fallbrook Technologies, the San Diego-based maker of gearless transmissions, is closing down its headquarters office and relocating to Texas.

In-Flight Broadband Proposed By Qualcomm

TECH: FCC Examining Idea of Using Cell Towers for Service

The federal government is taking up a 2-year-old proposal from Qualcomm Inc. to extend broadband Internet service to air travelers, using cell towers.

Real Estate Sales in Luxury Areas ‘White Hot’

REAL ESTATE: Homes Above $1M Rising, But Still Below 2008 Median

San Diego’s median home prices continued climbing last month with the increases in the luxury category, above $1 million, rising faster than the rest of the market, say housing industry sources.

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New Implanted Device Is Transforming the Treatment of Scoliosis

MEDICINE: UCSD Surgeons, Firm Develop Corrective Magnetic Rods

Implanted, growing magnetic rods — they sound like something out of a sci-fi movie.

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Sprouts Files for IPO After 2011 Acquisition By Apollo Global

RETAIL: Appetite For Healthier Foods Spurs Growth of Chain

Sprouts Farmers Market LLC, the natural foods retailer whose origins go back to a fruit stand on El Cajon Boulevard in 1943, filed to go public earlier this month and raise about $300 million.

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Lumena Secures $23M to Advance Trials for Liver Disease Drug

BIOTECH: PwC Reports Q1 2013 Drop In Dollars and Deals

Lumena Pharmaceuticals Inc., a San Diego-based manufacturer of liver disease drugs, recently secured $23 million in Series A financing.

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Executive Profile: Matthew Garrett

CEO Matt Garrett founded TGG Accounting to improve the national small business success rate. Through a set of best practices — known as The TGG Way — his firm provides business owners and their management teams with high quality, timely and accurate financial statements that help them keep their companies in order, make better decisions and sleep better. A national Vistage speaker, Garrett built and sold two startups before he was 35.

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Accounting and Finance Jobs in Demand as Economy Rebounds

FINANCE: Hiring Is Across the Board, Salaries on the Rise

Always in fairly high demand, workers with accounting and finance experience are finding increased job opportunities as companies gradually expand operations, and competition for top talent ratchets up.

Looking Beyond the Books

ACCOUNTING: Forensic Accountants Pursue Financial Facts With Variety of Skills

Sifting through mountains of financial records to figure out the net worth of a person may not sound glamorous, but it’s the stuff that gets forensic accountants excited.

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BofI Federal Bank Launches Health Care Finance Unit

Finance Column

BofI Holding Inc., parent of BofI Federal Bank, continues getting larger as it expands its repertoire of loan offerings.

This ‘Fashionable Cause’ Can Help Change People’s Lives

The Business of Law Column

Pettit Kohn Ingrassia & Lutz, the San Diego Paralegal Association, and the Filipino American Lawyers of San Diego are working together again this year on the Women and Men’s Suit Drive.

The Line Between Business and Personal Devices Is Blurring

TECH: Firms Find Ways to Give Workers Secure Access to Data

When Cadence Pharmaceuticals Inc. saw that it was time to retire the laptop computers that its sales force carried, it set foot in the growing world of BYOD.

Friday, May 17

Synthetic Genomics Enters Research Agreement with ExxonMobil Corp.

La Jolla-based Synthetic Genomics Inc. has entered a new research agreement with ExxonMobil Corp., using genomics to develop strains of algae that can be used for biofuel.

Promenade Construction to Begin at North Embarcadero

Port district and city officials are marking what is deemed a significant milestone for the $28 million first phase of renovations to the North Embarcadero area in downtown San Diego.

Ambit Makes Market Debut

Ambit Biosciences Corp. began trading yesterday on the Nasdaq, announcing the pricing of its initial public offering at $8 per share. At market close, it traded at $7.30 per share.

Two Heirs of Late Walter J. Zable Fortune to Sell 2.3 Million Shares of Cubic Stock

The two heirs of the fortune of the late Walter J. Zable, the founder and chief executive of Cubic Corp., are selling about 2.3 million shares of the stock they own, according to a recent securities filing.

Osage Exploration and Development Reports Net Loss of $73,425 for Q1

Osage Exploration and Development Inc., a San Diego-based independent energy exploration and production company, reported a first quarter net loss of $73,425 compared with a net profit of $456,026 for the like quarter of 2012.

Lazy Dog Restaurant Hiring 200 for New Mission Valley Location

Orange County-based Lazy Dog Restaurant & Bar is hiring for 200 positions at its first San Diego location, set to open in June in Mission Valley.

Australia Expresses Interest in Global Hawk

The government of Australia wants more information on Northrop Grumman’s Global Hawk spy drone, according to the U.S. Department of Defense and its Australian counterpart.

Thursday, May 16

Acadia Pharmaceuticals Expects $100M in Public Offering

San Diego-based drugmaker Acadia Pharmaceuticals Inc. has announced a public offering of its common stock, and said it expects gross proceeds to be $100 million.

ViaSat, L-3 Team Up to Provide Internet Service to Business Jets

Carlsbad-based ViaSat Inc. and a division of New York-based defense contractor L-3 said they plan to team up to provide high-speed Internet service to business jets.

Envision Solar International Reports Net Loss of nearly $1M for Q1

Envision Solar International Inc., a San Diego maker and designer of solar arrays, reported a first quarter net loss of about $1 million compared with a net loss of $984,000 for the like quarter of 2012.

City Council Approves Streamlining of Sidewalk Café Rules

San Diego City Council has approved changes to city code aimed at streamlining approval and reducing fees to establish sidewalk dining spaces at local eateries.

Life Science Venture Funding Drops Across the Nation

Fewer venture capital dollars have been invested into life sciences companies in the first quarter of 2013, according to a new PricewaterhouseCoopers report.

Think Tank Sees Room for Improvement in San Diego’s Exports

San Diego should be doing much better in exporting goods and services, according to a recently released assessment of the region by the Brookings Institution.

Wednesday, May 15

$90M Mixed-Use Development Planned for East Village

The San Diego Community College District has selected Lowe Enterprises and locally based I.D.E.A. Partners to develop a proposed $90 million mixed-used project in East Village, which would include office space, apartments, retail shops and restaurants.

Northrop Grumman Awarded Deal to Modernize Air Force’s Global Hawk Fleet

The U.S. Air Force recently awarded Northrop Grumman a deal that might exceed half a billion dollars, to modernize its Global Hawk fleet.

Sente Inc. Raises $2.1M in Series B Financing

San Diego-based skincare product maker Senté Inc. has raised $2.1 million in Series B financing from a pool of existing and new investors.

Navy Accepts Delivery of Its First Mobile Landing Platform Ship

The U.S. Navy recently announced that it had accepted delivery of its first Mobile Landing Platform ship from San Diego shipbuilder General Dynamics Nassco.

InfoSonics Corp. Reports Sales of $7.8M for Q1

InfoSonics Corp., the San Diego distributor of cellphones in Latin America, reported first quarter sales of $7.8 million, down 37 percent from the like quarter of 2012.

Northrop Grumman X-47B Performs First Unmanned Carrier Launch

The U.S. Navy announced the first launch of an unmanned aircraft from the deck of an aircraft carrier.

San Diego Sees Median Home Prices Increase in April

San Diego’s median housing price based on April sales rose 21 percent to $400,000, and local sales numbered 3,792, up 6.5 percent from the same month a year earlier, according to Dataquick, the local real estate research firm.

Tuesday, May 14

CareFusion Corp. Reports Revenue of $901M for Q3

San Diego-based CareFusion Corp. recently reported a drop in its third quarter revenue, resulting in a dip in the medical device manufacturer’s stock price.

Sony Reopening of Redesigned Fashion Valley Store Set for May 17

Sony Electronics, which is based in San Diego, has scheduled a May 17 reopening of its remodeled Sony Store at Fashion Valley mall.

Pulse Electronics Corp. Reports Operating Profit of $1M for Q1

Pulse Electronics Corp., a San Diego manufacturer of electronic components, reported first quarter net sales of $84.8 million, down 9.9 percent from the like quarter in 2012.

University Buys Former Museum Building in Escondido

John Paul the Great Catholic University has purchased a commercial building in downtown Escondido, where it plans to relocate its Scripps Ranch campus.

Encore Capital Group Reports Net Income of $19.4M for Q1

Encore Capital Group, the San Diego based collector of charged-off credit card debt, reported first quarter net income of $19.4 million, up from $11.4 million for the like quarter of 2012.

Transit District Adding Late-Night Train Service During Fair

For the first time, North County Transit District will offer daily late-night Coaster train service during the San Diego County Fair.

IPS Group Makes Nearly $1M Parking Meter Sale to Bloomington, Ind.

San Diego-based IPS Group Inc. has sold roughly 1,500 of its wirelessly connected parking meters to the city of Bloomington, Ind. Company marketing manager Lisa Bahr confirmed the sale.

Naval Medical Center to Hold Ribbon Cutting Ceremony for Rancho Bernardo Clinic May 15

The Naval Medical Center San Diego will hold a ribbon cutting ceremony for its newest clinic in Rancho Bernardo on May 15.

Monday, May 13

BofI Holding Co. Reports Net Profit of $10.4M for Q3

BofI Holding Co., parent firm to BofI Federal Bank, reported fiscal 2013 third quarter net profit of $10.4 million, up 35 percent from the like quarter of 2012.

Locally Based Retailer Charlotte Russe Debuts New Store in Alpine

Women’s clothing and accessories retailer Charlotte Russe Inc., which is based in San Diego, recently opened a new store at Viejas Outlets in Alpine, its 11th in San Diego County.

Slacker Radio Adds 6 Million New Listeners Following Company Relaunch

Slacker, the San Diego-based online music provider, said since the relaunch of the company’s digital service in February it’s added six million new listeners, including more than half using mobile devices.

Halozyme Therapeutics Reports Revenue of $11.8M for Quarter Ended March 31

San Diego’s Halozyme Therapeutics Inc. reported revenue of $11.8 million for the quarter of 2013 ending March 31, up from $7.4 million from the same period in 2012.

Ralphs Opens Newest Local Supermarket in Point Loma

Ralphs Grocery Co. has opened the 23rd San Diego County location of its Ralphs supermarket in Point Loma.

Kratos Defense & Security Solutions Reports Net Loss of $10.3M for Q1

San Diego-based Kratos Defense & Security Solutions Inc. reported a net loss of $10.3 million on revenue of $252.8 million during the quarter ended March 31.

Business Events Calendar

Business events in and around San Diego County for the week of May 13 - May 19.

Local Contracts for Future Construction Up 18% in First Quarter

Real Estate Column

The latest figures from McGraw-Hill Construction show San Diego County 18 percent ahead of a year ago for construction projects in the pipeline.

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Ambrx Closes New Deal With Bristol-Myers

BIOTECH: Funding Allows Firm Flexibility for Development

In rapid succession San Diego’s Ambrx Inc. has received sizable payouts from sizable drug companies, most recently penning a cancer drug development deal with New York-based Bristol-Myers Squibb.

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Hotel Del Coronado Celebrates 125th Birthday

Tourism: Iconic Hotel Is Major Tourist Draw

The resident historian at Hotel del Coronado notes that the historic beachfront property — marking its 125th anniversary this year — not only put San Diego on the map as a national tourist destination, but also helped pave the way for the military presence that also drives the local economy.

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Jack in the Box Plays Charity Golf for Big Brothers Big Sisters

Kudos/Giving Column

The Jack in the Box Foundation donated $325,000 to Big Brothers Big Sisters. The funds were raised at 23rd annual Jack in the Box Charity Golf Tournament held in April. More than 350 Jack in the Box employees and vendors attended the tournament held at the Hyatt Regency Indian Wells Resort & Spa.

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Real Estate Roundup

Projects, developments and other activity in cities in and around San Diego County

Lennar recently released a new community of multigenerational homes that allow extended families to live together in one home called Next Gen — The Home Within a Home. This floor plan allows extended family to live all together in one home — except with private and separate living spaces. The new floor plan is now offered in north San Diego at Sevilla and Estrella at The Lakes above Rancho Santa Fe.

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Evidence-Based Design Drives SYHC Facilities Renovation

HEALTH CARE: Clinic Interior Promotes Healing; ‘Not Just a Decorating Job’

San Ysidro Health Center is using what’s called evidence-based design to inform the renovation of its new three-story clinic and urgent care center in Chula Vista — and streamlining health care in the process.

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The Lean Way

BUILDING: A Process Called ‘Lean Construction’ Smooths Road to Renovation

Tenant improvements and site renovations have been crucial to the business enhancement efforts of local contracting companies over the past five years, as work assignments in new-construction projects remain tough to come by in San Diego County and elsewhere.

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Regional Report

News and notes from communities around San Diego County

The City Council recently approved plans to build another shooting range in the Poway Business Park. This time it is new construction rather than a building conversion.

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California Bank & Trust Reports Positive First Quarter Results

Finance Column

California Bank & Trust, San Diego’s largest locally based bank with about $11 billion in assets, reported a slightly better first quarter, netting $31.9 million, up from $29.7 million in net income in the same quarter a year earlier.

Local Biotech Activity Hints at Sector’s Post-Recession Pickup

Biotechnology Column

It’s been a busy few weeks for San Diego’s biotechs. Acquisitions, partnership payouts and a number of IPOs are in the works—all signs that the sector, somewhat sluggish post-recession, is picking up its pace.

Company Offers Mobile Patient-Controlled Health Record Access

HEALTH: Software Fills An Important Need, Reduces Medical Error

Patients are often shuttled from physician to physician, resulting in a quagmire of confusing medical records when they’re generated at different sources. This can lead to medical error, if doctors aren’t given a comprehensive account of a patient’s history at the get-go.

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Mayor to Relocate City Operations

San Diego Mayor Bob Filner has signed a letter of intent to relocate a portion of city operations to the downtown office tower at 525 B St., in a move the mayor said will save the city $3 million annually in leasing costs.

Grand Jury Tasks City Officials With Game Plan

REAL ESTATE: New Agency Will Address Plans For Redevelopment Needs

San Diego officials in coming weeks will be strategizing on ways to maintain development momentum downtown and elsewhere in the city, without the help of the California redevelopment agency program abolished by the state last year.

Qualcomm Acquires Medical Software Maker

HEALTH CARE: Firm Doubles Employment in Its Qualcomm Life Unit

One of the hottest buzzwords of health care reform is the ACO — the accountable care organization. San Diego’s Qualcomm Life, the health sciences subsidiary of telecommunications giant Qualcomm Inc., has made a bold move to enter the ACO space — by acquiring San Diego IT company HealthyCircles Inc.

USD MBA Student Wins National Stock- Picking Competition

SDBJ Insider

Congratulations are in order for one very impressive University of San Diego MBA candidate. Daniel McAllister wins the first-ever All-America Student Analyst Competition, sponsored by Institutional Investor magazine and portfolio tracking software distributor Mark My Media.

Binational Olympics Plan Enlists Romney

TOURISM: Plan Will Raise Area’s Profile as Tourist Draw

If it can clear some significant long-range hurdles, San Diego can turn its cross-border proximity to the growing city of Tijuana into a boon for the local hospitality industry, tourism and government leaders said at a recent forum in Mission Valley.

Unmanned Magic

Defense: Newest U.S. Navy Squadron Has Local Business Tie

Northrop Grumman is giving the Magicians a new trick. Officials at Naval Air Station North Island recently held ceremonies to inaugurate the Helicopter Maritime Strike Squadron 35, nicknamed the Magicians.

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CEO Turnover at Active and Encore

LEADERSHIP: Analysts Take News in Stride, Shares Rise

Two San Diego public companies, Active Network and Encore Capital Group, replaced their chief executive officers, although one change occurred suddenly and without reason.

Executive Profile: John Dempsey

John Dempsey is president of Dempsey Construction Inc., a commercial general contracting and construction management firm, which he formed in 2010. Dempsey, who previously spent 28 years with Lusardi Construction, has built a business model that delivers a blend of large-company experience with the hands-on approach of a boutique company.

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Friday, May 10

Lumena Pharmaceuticals Secures $23M in Series A Financing

Lumena Pharmaceuticals Inc., a San Diego-based manufacturer of liver disease drugs, has secured $23 million in Series A financing.

Summa Education Opens Second Office in Rancho Bernardo

Summa Education, an SAT test preparation business based in Carmel Valley, recently opened a second office in Rancho Bernardo to handle its expanded business.

Sur La Table Signs Lease for Third Local Store

Culinary supplies retailer Sur La Table Inc. has signed a lease to open a 6,720-square-foot store in La Jolla, which will be its third location in San Diego County.

E-Learning Mind Acquired by Capas Inc.

San Diego based E-Learning Mind said it was acquired by Capas Inc., a Detroit-based private equity investment firm.

Isis Pharmaceuticals Earns $3.5M in Milestone Payments

Isis Pharmaceuticals Inc. has earned $3.5 million in milestone payments from Weston, Mass.-based drugmaker Biogen Idec Inc.

Carlsbad to Seek Proposals for Development Near Golf Course

The city of Carlsbad will seek requests for proposals to develop portions of The Crossings at Carlsbad adjacent to the city-owned golf course.

Thursday, May 9

LRAD Reports Second Quarter Sales of $3.2M

Rancho Bernardo-based LRAD Corp. reported a net loss of $459,000, or 1 cent per share, on revenue of $3.2 million during its recently ended second quarter.

Pacifica Host Hotels Renovating La Valencia in La Jolla

San Diego-based Pacifica Host Hotels is in the midst of a renovation of the historic La Valencia Hotel in La Jolla, which will include the addition of new suites and a signature spa in the final phase.

Novatel Wireless Reports Net Loss of $9.1M for Q1

Novatel Wireless Inc., the San Diego maker of wireless solutions for carriers, distributors and retailers, reported first quarter net loss of $9.1 million on revenue of $85.9 million.

Janssen Pharmaceuticals Inc. Enters Collaboration Deal with Scripps Research Institute

Janssen Pharmaceuticals Inc. has entered a five-year research collaboration deal with La Jolla’s Scripps Research Institute to study infectious disease, particularly influenza.

OliverMcMillan Begins Work on Downtown Apartments

San Diego-based developer OliverMcMillan and its investment partner, Capri Capital Partners of Chicago, recently began construction on The Lofts, a 208-unit apartment building in downtown San Diego.

Darren Pudgil Accepts New Job at San Diego Tourism Authority

Darren Pudgil, who has been the spokesman for such politicians as former San Diego Mayor Jerry Sanders, former Congressman Brian Bilbray, and the chief of staff to County Supervisor Ron Roberts, is the new vice president of communications and public affairs for the San Diego Tourism Authority.

Wednesday, May 8

Arena Pharmaceuticals to Receive $65M in Milestone Payments from Eisai Inc.

San Diego’s Arena Pharmaceuticals Inc. will receive $65 million in milestone payments from Japanese pharma company Eisai Inc. after receiving U.S. Drug Enforcement Administration approval of its weight loss drug, Belviq. This approval will allow the drug to be sold on the U.S. market.

Epsilon Gets $21.6M Navy Contract

The U.S. Department of Defense reported that it awarded San Diego-based Epsilon Systems Solutions a $21.6 million contract for technical services.

Vibra Bank Reports Net Loss of $362,000 for Q1

Vibra Bank, based in Chula Vista with a single office, reported a first quarter net loss of $362,000, compared with net profit of $469,000 for the like quarter of 2012.

Tommy Hilfiger Opening Store at Fashion Valley

Designer clothing retailer Tommy Hilfiger Group is scheduled to open a new Tommy Hilfiger store at Fashion Valley mall in Mission Valley on June 1.

Mayor Plans Office Tower Relocation for City Workers

San Diego Mayor Bob Filner has signed a letter of intent to relocate a portion of city operations to the downtown office tower at 525 B St., in a move the mayor said will save the city $3 million annually in leasing costs.

BuyAutoParts.com Named to the Internet Retailer 2013 Top 500 Guide

BuyAutoParts.com, a Sorrento Valley online auto parts distributor, said it’s been named to the Internet Retailer 2013 Top 500 Guide, ranking 422nd this year.

Tuesday, May 7

Bridgepoint Education Reports Net Income of $23.5M for Q1

Bridgepoint Education, the San Diego for-profit provider of postsecondary courses primarily through its online channels, reported first quarter net income of $23.5 million, compared with net income of $33 million for the like quarter of 2012. Revenue was $222 million compared with revenue of $250 million for the like quarter of last year.

NuVasive Inc. Acquires ANC LLC for $4.5M

San Diego medical device maker NuVasive Inc. has acquired one of its main spinal implant suppliers, Dayton, Ohio-based-based ANC LLC, for $4.5 million.

Investment firm ROIC Reports Increases in Revenue, Income

Retail Opportunity Investments Corp. posted gains from a year ago in total revenue and net income for its first quarter ending March 31.

Northrop Grumman’s Unmanned Drone Passes Milestone

Northrop Grumman’s experimental, unmanned drone designed to fly off of aircraft carriers has passed another development milestone.

Median Price for Single Family Home Rises in April

San Diego’s median price for a single family house reached $450,000 in April, the highest it’s been in five years, and a 23 percent increase from the same month a year earlier, according to the Greater San Diego Association of Realtors.

Soccer Game Comes to Petco Park This Summer

Soccer, or more accurately futbol, is coming to Petco Park this summer.

Monday, May 6

American Assets Trust Posts Rise in Revenue for First Quarter

American Assets Trust Inc. reported a 12 percent rise from a year ago in its first-quarter revenue, totaling $62.2 million for the period ending March 31.

Ambrx Secures $15M Payout From Bristol-Myers Squibb

La Jolla-based biotech Ambrx Inc. secured a $15 million payout from Bristol-Myers Squibb, with milestone payments tallying as much as $97 million.

Japan’s FTC Approves of Pending Acquisition of Cymer

Japan’s Fair Trade Commission gave its blessing on the pending acquisition of San Diego-based Cymer Inc. by ASML Holding NV, based in the Netherlands.

Excel Trust Sees Increase in 1st Quarter Revenue

Excel Trust Inc. saw first quarter revenue rise 38 percent from the same period a year ago, according to a statement from the San Diego-based real estate investment trust.

Abide Therapeutics Enters Drug Development Deal With Merck & Co. Inc.

La Jolla-based Abide Therapeutics Inc. has entered a drug development deal that could bring in up to $430 million with drug maker Merck & Co. Inc.

RedIT Opens ‘Data Park’ in Mexico City

San Diego-based RedIT announced it has opened a “data park” in Mexico City.

Honest Kitchen Is Offering Special Goat’s Milk Pet Food

It’s a mealtime treat with some bleat. The Honest Kitchen has augmented its pet-food line with Pro Bloom, a shelf-stable instant goat’s milk with digestive enzymes and probiotics.

Business Events Calendar

Business events in and around San Diego County for the week of May 6-May 12.

International Trade Grows 27% in Region

TRADE: Mexico is Top Trading Partner, Driven By Maquiladoras

The value of goods exported and imported through San Diego continues to grow, largely thanks to its biggest trading partner, Mexico, which makes up about 86 percent of the total trade, according to a recent report from a local think tank.

Cumming Corp.’s Work Builds With Recovery

BUILDING: Firm Adds Workers To Handle Pre-Construction Jobs

Much of the work of Cumming Corp. is finished long before most of its clients’ construction projects begin sprouting from the ground. But an improving economy is spurring the San Diego-based company to brace itself to serve rising demand for its pre-construction project and cost management services.

Leaders Pave Way for Defense Sector Diversity

DEFENSE: Women in Top Jobs, Programs Open Industry

Those wondering about opportunities for women in the defense sector may be heartened by developments at General Dynamics and Lockheed Martin Corp.

The Women Behind the Win

DEFENSE: Three Execs Team Up to Get Big Defense Deal

Georgia Griffiths, CEO of G2 Software Systems Inc., was on vacation when she realized an opportunity to grab the largest deal in her company’s history.

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Pacifica Hotel Co. Pursues New Coastal Development Deals

PROPERTY: Firm’s Focus Is on Renovation Of Existing Properties

When Pacifica Hotel Co. recently sold the 73-room Empress Hotel in La Jolla, company leaders said the sale would open up opportunities for the growth-focused firm to pursue new coastal hotel development deals.

Transforming the Transactions

BANKING: Branch Banking Adapts to Technology Advances

Despite a quantum shift by more consumers doing their banking via the Internet and ATMs, most banks say they have no plans to eliminate their retail branch networks.

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Activity Swirls Around the Multifamily Market

PROPERTY: Tight Supply, Active Lenders, Hungry Investors Drive Sector

Lenders, investors and landlords continue to capitalize on San Diego County’s apartment fundamentals in the early months of 2013, with high demand and limited supply driving rents and property prices upward.

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Firm’s Small Modular Fuel Plants Can ‘Sprout Up’ Where Needed

ENERGY: Oberon’s Units Produce Fuel On-Site, Using Local Sources

A San Diego clean energy company is making strides in changing the way power plants are set up — by making them modular.

Institute Gives Beysters a Place of Honor for Their Support

Kudos/Giving Column

J. Robert Beyster and Betty J. Beyster will donate approximately $2.5 million to the J. Craig Venter Institute. The funds will be used to support the completion of the J. Craig Venter Institute sustainable laboratory that is currently under construction at UC San Diego.

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Local Small Business Lender Generates Opportunity and Jobs

FINANCE: The CDC Has Loaned Nearly $4B In Its 35 Years

Now in its 35th year, small business lender San Diego-based CDC Small Business Finance can take some pride in the legacy it’s created.

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Executive Profile: Nikki Atkins Hartung

Nikki Hartung is senior vice president and market manager for Chase Consumer and Business Banking in San Diego. She has worked for JPMorgan Chase & Co. for 19 years, after joining the company in a management development program

Warburg Pincus-Backed Sophiris Biosciences Plans $75M IPO

BIOTECH: Former Canadian Firm Developing BPH Treatment

Sophiris Biosciences Inc.’s story is one of immigration and, in a way, the pursuit of the American dream: It’s a Canadian-turned-American pharmaceutical company that’s using its newfound San Diego base to restructure and ramp up development plans for its drug that treats prostate enlargement.

Seacoast Commerce’s Strategy Grows Assets and Deposits

Finance Column

Good borrowers may be tougher to find, but it’s much easier if you’ve got a sizable loan production network. That appears to be the case at Seacoast Commerce Bank based in Rancho Bernardo, which operates a dozen loan production offices outside the county where it has two branches. Besides five branches in California, it also has sites in Arizona, Nevada, Texas, Utah and Washington.

Procopio Partner, Tax Attorney for Past 37 Years Retires

The Business of Law Column

If you’ve been a tax attorney for 40 years, and decide to take down the shingle, you deserve to be the lead item in a law column. Procopio, Cory, Hargreaves & Savitch LLP said goodbye to George L. Damoose recently.

Sempra Energy Reports Net Income of $178M for 1st Quarter

Sempra Energy, San Diego’s parent to San Diego Gas & Electric and other entities, reported first quarter net income of $178 million, down from $226 million in net income for the first quarter of 2012.

Cubic Reports Increase in 2nd Quarter Sales and Net Income

Cubic Corp. reported a 7 percent increase in second quarter sales and a 16 percent increase in net income compared with the same period one year ago.

Vacation Rental Market Heats Up for Summer

PROPERTY: Busy Season Begins Late June Through August

The coming of summer means it’s high season for businesses such as Penny Realty Inc. The Pacific Beach firm rents out 90 vacation homes, largely but not exclusively in Pacific Beach and neighboring Mission Beach.

Seating Concepts Moves to a New Seat in San Diego

SDBJ Insider

Family-owned fixed auditorium seating provider Seating Concepts LLC, which was started in Mexico with just 5,000 in pesos in 1926, and moved to the U.S. in the 1980s, has announced that it has relocated its global corporate headquarters near Lindbergh Field in San Diego.

Scripps Health Wins With Bid for Hospice

HEALTH: Bankrupt Facility Will Still Be Used as Hospice

A heated auction in federal bankruptcy court last week culminated in Scripps Health making a winning $16.55 million bid for San Diego Hospice’s eight-acre Hillcrest property.

Friday, May 3

Life Technologies Reports Revenue of $963M for Q1

Revenue for Life Technologies was $963 million for the quarter ending March 31 — a 2.5 percent increase over the $939 million reported for the first quarter of 2012.

Smashburger Opens 11th San Diego County Restaurant

Fast-casual restaurant chain Smashburger has opened a new location in San Marcos, its 11th in San Diego County.

Sempra Energy Reports Net Income of $178M for Q1

Sempra Energy, San Diego’s parent to San Diego Gas & Electric and other entities, reported first quarter net income of $178 million, down from $226 million in net income for the first quarter of 2012.

Local Economic Index Increases 0.3% in March

Led by a drop in the number of unemployment claims, an index tracking San Diego’s economy increased 0.3 percent in March.

BioMed Reports Record Revenue for First Quarter

BioMed Realty Trust Inc. posted a company record $160.5 million in revenue for its first quarter ending March 31, an increase of 33.7 percent from the year-ago period.

U.S. Chamber of Commerce Foundation to Hold ‘Hiring Our Heroes’ Job Fair

The U.S. Chamber of Commerce Foundation is hosting a Hiring Our Heroes job fair at Camp Pendleton May 7 aimed at the spouses of active duty, guard, reserves, and retired veterans.

Millennium Laboratories Appoints W. Brock Hardaway as CEO

San Diego-based clinical diagnostic lab Millennium Laboratories has appointed health care executive W. Brock Hardaway as its new CEO.

San Diego Business Journal's Fastest Growing Companies Nominations Close Today

Nominations for the San Diego Business Journal’s Annual Fastest Growing Private Companies will close today, May 3.

Thursday, May 2

DexCom Inc. Reports Revenue of $27.8M for Q1

Revenue for San Diego diabetes testing equipment maker DexCom Inc. rose to $27.8 million for the first quarter of 2013.

Three More Eateries Confirmed for $40M Headquarters Project

The Cheesecake Factory, Eddie V’s and Seasons 52 have joined the roster of new restaurants set to debut at The Headquarters, the $40 million retail center being developed in downtown San Diego by Terramar Retail Centers, in the former Old Police Headquarters building.

San Diego Gas & Electric Launches $1M Environmental Champions Initiative

San Diego Gas & Electric has launched a new Environmental Champions initiative, in which it’s donating $1 million to fund local environmental nonprofit organizations in San Diego and southern Orange counties.

Clothing Retailer Madewell Opening at Fashion Valley

Casual clothing retailer Madewell Inc. is scheduled to open its first San Diego County store May 7 at Fashion Valley mall.

Leap Wireless Reports Net Loss of $111.3M for Q1

Leap Wireless International Inc., the San Diego flat-rate wireless carrier that does business under the Cricket brand, reported a first quarter net loss attributed to common shareholders of $111.3 million compared with a net loss of $98.4 million in the like quarter of 2012.

Two Local Health Systems Named to List of “100 Great Places to Work in Healthcare”

Two area health systems were named to the annual Beckers Hospital Review list of “100 Great Places to Work in Healthcare.”

Wednesday, May 1

Scripps Health Acquires Hillcrest Hospice Facility

Scripps Health out bid Sharp HealthCare on April 30 with a $16.55 million offer for the bankrupt San Diego Hospice’s Hillcrest facility.

Ligand Diversifies Its Portfolio With Biologics Acquisitions

San Diego-based Ligand Pharmaceuticals Inc. has paid $3.5 million to acquire a portfolio of more than 15 biologic development programs from Geneva, Switzerland-based drugmaker Selexis SA, the company said in a regulatory filing. Ligand will additionally pay $1 million more on the first anniversary of the closing, the company said.

Japan Airlines Plans June 1 Debut of Daily Local Service

Japan Airlines will begin offering its direct local service between San Diego and Tokyo on a daily basis on June 1 using the Boeing 787, after addressing electrical system issues that caused a global grounding of the Dreamliner aircraft used for its San Diego flights.

GreatCall to Open 20,000-Square-Foot Call Center in Nevada

GreatCall, a San Diego company offering wireless products to aging consumers, said it plans to open a 20,000-square-foot call center in Reno, Nev., by June. The firm said it plans to add 75 workers by the end of the year, and 400 workers over the next five years.

Airport Parking Lot Reopens Following Expansion

San Diego International Airport has reopened the Terminal 2 parking lot after adding 600 new spaces, bringing the total of short-term spaces to more than 1,300.

Peregrine Semiconductor Reports Net Loss of $1.2M for Q1

Peregrine Semiconductor, the San Diego-based maker of radio frequency integrated circuits used in wireless devices, reported a first quarter net loss of $1.2 million, compared with a net loss of $3 million for the like period of last year.

Maxwell Technologies Reports Several Financial Metrics

Maxwell Technologies Inc., San Diego manufacturers of energy storage devices used in hybrid buses, reported several financial metrics for the fourth quarter of 2012 and first quarter of this year, not including revenue and net profits.