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WD-40 Co., which produces its namesake lubricant as well as other chemicals, reported net income of $13.7 million, or 94 cents per diluted share, on net sales of $94.6 million in the second quarter ending Feb. 29.
RETAIL: Co.’s Crates, Baskets Attracted Major Retailers
KitchenAid, Rubbermaid and now CleverMade. A Carlsbad company is coming into the saturated storage industry with collapsible, space-saving options for crates and baskets that are mobile, a solution for anyone on the move, camping or packing for college.
San Diego County’s craft beer makers generated $851 million in sales while employing more than 4,500 during 2015, according to the latest annual industry impact update by National University System Institute for Policy Research.
Two companies with San Diego ties will compete to build small military aircraft that will travel in swarms and be reusable up to 20 times.
The World Trade Center San Diego launched its MetroConnect Prize, a chance for companies to apply for a $10,000 grant, provided through JPMorgan Chase & Co., to assist with San Diego companies’ international efforts.
The U.S. Air Force awarded Northrop Grumman Corp. a $30.3 million modification to a previously awarded contract for Lot 11 production of its Global Hawk aircraft.
The amount of change in the craft beer industry has been rapid, vast and disruptive over the past 10-plus years. Craft-beer-centric regions like San Diego, Colorado and the Pacific Northwest have been particularly exciting and even other historically less craft-beer-centric regions such as Austin, Atlanta, Chicago and Ashville have turned into new craft hubs, complete with craft beer tourism.
BREWING: In a Competitive, Growing Industry, Brewers Employ Stock, Cash, Culture and Other Methods to Retain Workers
The nation’s craft beer companies brewed 24.5 million barrels in 2015, according to figures recently reported by the Brewers Association trade group, besting the prior year’s production by 13 percent as retail sales grew by 16 percent, reaching $22.3 billion.
CONTRACTING: Cos. Scheduling Maintenance, Repairs Months Ahead
When it rains, it pours. At least, that’s what many would-be roof repair customers thought last fall when talks of a “monster” El Nino filled the news. While the severe rains didn’t quite materialize in San Diego, the roof repair demand did.
RETAIL: Updated Equipment, Lower Profile Are New Strategy
New ownership has taken over an Oceanside-based gun component and accessories manufacturer — the target of a 2014 raid by federal agents over allegedly improper sales — aiming to attract less negative attention and concentrate on management fundamentals.
Video game headset maker Turtle Beach Corp. on March 24 reported annual revenue of $162.7 million, down from $186.2 million in 2014, attributing the drop to a faster than expected decline in revenues from older generation products and the strong dollar’s negative impact on its international sales.
TRANSPORTATION: San Diego Emerges as Hotbed of Electric Bike Industry
Electric bikes are far from ubiquitous on California streets but are quickly growing in popularity as American consumers catch up to the far more ebike friendly Europe and Asia. And San Diego is a hotbed of ebike makers, with both American headquarters of major European manufacturers and budding local companies.
San Diego’s EDF Renewable Energy on Wednesday said it had sold the development assets of a proposed 20-megawatt solar power project in San Bernardino County to a subsidiary of Charlotte, N.C.-based Duke Energy.
RF Industries Ltd., which makes cable assemblies and connectors for electronics, reported a first quarter net loss of $353,000, or 4 cents per share, on net sales of $7 million.
Directors of WD-40 Co. named Daniel T. Carter to a seat on its board of directors, effective March 21.