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ENERGY: Second-Quarter Net Income Up 9.8%; Key Project Gets Financing
Sempra Energy, San Diego’s second-largest company by revenue, is on track get bigger this year, both in sales and profits.
Manufacturing: Rising Instrument Sales Are Music to Industry’s Ears
Thanks in part to the recent popularity of Hawaiian ukulele virtuoso Jake Shimabukuro — with an assist from pop stars Jason Mraz, Taylor Swift, Bruno Mars and others — the miniature stringed instruments have become a big seller at San Diego-based Bertrand’s Music.
Sempra Energy reported second quarter net earnings of $269 million, up 9.8 percent from the net profit in the second quarter of 2013.
Pulse Electronics Corp., a San Diego based maker of electronic components, reported second quarter net sales of $93.6 million, up 6 percent from the prior year’s second quarter.
Sempra Energy announced that it and its partners approved the final investment decision for the natural gas liquefaction and export project planned in Louisiana.
Southern California Edison said that its plan to decommission the San Onofre Nuclear Generating Plant would cost $4.4 billion.
Cubic Corp., the San Diego defense contractor and provider of mass transit fare systems, reported fiscal 2014 third quarter revenue of $340.4 million, up 1 percent from the like quarter of last year.
OneRoof Energy Group Inc., a San Diego solar power finance provider, said it closed on $1 million of additional loan funding under an existing loan arrangement. The loan was made by Hanwha Holdings Inc., an existing shareholder of the company.
The Department of Defense said on July 30 that ViaSat Inc. and Data Link Solutions LLC will share a $116.8 million contract modification to do systems engineering and integration on sophisticated military radios:
Medical Marijuana Inc., a San Diego publicly traded company (OTC: MJNA) said it officially assumes control of Dixie Botanicals, a Denver based business that makes cannabidiols (CBD), the main component in a variety of hemp oil products, in a transaction that will likely increase its staff.
ViaSat Inc. said on July 28 that it acquired certain assets of Georgia-based Gray Labs Inc. for undisclosed terms.
San Diego-based Sapphire Energy Inc., a producer of algae cultivation technologies, appointed James Levine as president, CEO and board member, the company announced.
Beverage: San Diego Beer Maker’s Product Now Sold in 11 Other Countries
San Diego-based Green Flash Brewing Co. is the latest expanding beer-maker to extend the reach of its popular brews well beyond U.S. borders.
BREWING: Brewery, Eatery And Store Part of Big Plans
Years ago, some people told Stone Brewing Co.’s co-founder that he’d be crazy to take on the established players in beer-making’s European homeland, particularly Germany.
The Pentagon said on July 23 that the Defense Threat Reduction Agency awarded Cubic Corp. a contract that could be worth up to $500 million over 10 years.