Brad Graves

Reporter

Email: bradg@sdbj.com
Phone: 858-277-6359 Extension: 3102

Recent Stories

Turtle Beach Charts Share Buyback

Audio accessories brand Turtle Beach (Nasdaq: HEAR) approved a $15 million share buyback on Wednesday.

$13M Software Upgrade for Navy Triton Aircraft

The U.S. Navy awarded Northrop Grumman Corp. a $12.9 million contract modification to upgrade software on three MQ-4C Triton aircraft.

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Screen-Printed Sensors Can Pinpoint Fentanyl

U.S. Defense Department funds helped a research team at UC San Diego develop an inexpensive way to test for fentanyl, the headline-grabbing opioid that can be 50 times stronger than morphine — or even stronger.

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GA-ASI to Build Aircraft for Spain in $34M Deal

The MQ-9 model is known as the Predator B, Reaper or Guardian.

Belgium Moves Closer to $600 Million Reaper Deal

General Atomics Aeronautical Systems Inc. is getting attention from a NATO ally and the aviation community at large.

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U.S. Clears Sempra to Export LNG from Baja California

Sempra Energy has received federal approval to export natural gas to its terminal near Ensenada, Mexico for shipping to foreign shores. The news comes on the eve of a major LNG conference in Shanghai.

Wireless Specialist Inseego Improves On Its Net Loss

Inseego Corp., the electronics specialist formerly known as Novatel Wireless, reported a GAAP net loss of $8.1 million, or 12 cents per diluted share, on revenue of $202.5 million during 2018.

Guild Mortgage Sets Records in 2018

Guild Mortgage, the independent lender based in Kearny Mesa, reported record results for 2018. Total loan volume for the year was $16.53 billion.

Northrop Grumman Gets $245M Order for Roadside Bomb Jammers

The U.S. Navy said March 22 that it exercised an option worth $245 million to buy more signal jammers known as JCREW. Northrop Grumman Corp. builds the electronics, which U.S. troops use to foil roadside bombs.

GA Tests System That Could Propel Underwater Vehicles

General Atomics’ Electromagnetic Systems unit reported in early March that it successfully demonstrated an aluminum power system for an unmanned underwater vehicle.

VA Signs $148M Lease on Kearny Mesa Property

The Department of Veterans Affairs signed a 20-year, $148 million lease on an approximately 100,000-square-foot building in Kearny Mesa, which it will convert into a VA outpatient clinic — billed as the only clinic of its kind in Southern California.

Engine Co. Acquisition Adds Key Component to Kratos UAV Program

AEROSPACE: Kratos Buying 80.1% of Co. With Option to Buy the Rest

Kratos Defense and Security Solutions Inc. continues to develop its unmanned aircraft business, as shown by its recent acquisition of a company that makes small jet engines in February, and the first flight of a drone in March.

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Axos, MWABank Transaction Receives Federal Approval

San Diego-based Axos Bank said earlier this month that it received federal regulatory approval to take on the deposits of MWABank, which amount to $173 million. Axos Financial Inc. (NYSE: AX) originally announced its plan to take on MWABank in December.

CalPrivate Bank Names Board Member

CalPrivate Bank and its holding company, Private Bancorp of America, announced on March 22 that it has named Brett Lawrence to its board of directors.

Viasat Prices $600M Senior Secured Notes

FINANCE: Proceeds to Pay Off Credit Facility Debt, And for General Purposes

Viasat Inc. is selling $600 million in senior secured notes due 2027 to institutional buyers, after originally planning for a $500 million bond issue, the company said March 21.

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Military Construction May Wait for Border Wall

San Diego County has its share of military construction projects that might take a back seat to construction of a wall on the U.S.-Mexico border.

WD-40 Names Director

WD-40 Co. announced on March 19 that it named Anne G. Saunders to its board of directors, bringing the number of directors up to 10.

Cal State Trustees Name New President for CSU San Marcos

Trustees of the California State University system named Ellen Neufeldt the next president of Cal State University San Marcos. The university announced the appointment March 20.

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‘Navy Mayor’ Takes Command Friday

The U.S. Navy has named Rear Adm. Bette Bolivar as commander, Navy Region Southwest. In her role she will oversee shore bases in California and five Western states. Bolivar will relieve Rear Adm. Yancy Lindsey in ceremonies March 22 at Naval Base Coronado.

Global Hawk Makes Rare Landing Before Public

At 13 hours and 3,075 nautical miles, it was a relatively short flight for a U.S. Air Force Global Hawk unmanned aircraft.

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Some Military Construction May Wait for Border Wall

San Diego County has its share of military construction projects that might take a back seat to construction of a wall on the U.S.-Mexico border.

Viasat Plans $500M Bond Issue

Viasat Inc. said March 19 that it plans to sell $500 million in senior secured notes due 2027 through a private placement.

Sempra LNG Names Officers

Sempra LNG, a subsidiary of San Diego-based Sempra Energy, announced on March 18 that it named Justin Bird president, and Lisa Glatch chief operating officer. The two will develop Sempra’s liquefied natural gas export business.

Defense Budget Likely to Deliver for San Diego

ECONOMY: Ships, UAVs and Electronics On Pentagon’s Wish List

A draft Pentagon spending plan issued March 12 offers much to San Diego defense contractors, including publicly traded giants that build military ships and aircraft.

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With Xcerra on Board, Cohu Reports Record Revenues

Cohu Inc., a maker of equipment for semiconductor factories, reported record annual net sales of $451.8 million in 2018 following the acquisition of a similar equipment maker. The Poway company’s net loss for the year was $32.1 million.

GA Contract Aims to Get Carrier Launch System Up to Speed

The U.S. Navy recently issued two contracts to support General Atomics’ advanced aircraft carrier launch system, which is going on the new-style Gerald Ford-class carriers.

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RF Industries Buying Vista Company

RF Industries Ltd. said March 11 that it agreed to acquire the business and assets of C Enterprises LP of Vista. Terms of the deal were not disclosed.

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Turtle Beach to Buy German Firm

Rancho Bernardo-based gaming peripheral maker Turtle Beach Corp. said March 14 that it agreed to acquire Roccat, a German maker of PC gaming accessories. Separately the business announced it almost doubled its revenue for the year.

Cubic Acquires Nuvotronics for $64M

Cubic Corp. said March 14 that it acquired electronics maker Nuvotronics of Durham, North Carolina for $64 million cash. Nuvotronics produces microfabricated radio frequency products, primarily for the military satellite and electronic warfare markets. There are commercial applications for the products as well.

North County Printers Merge

Zuza and Golden State Graphics, two commercial printers based in North County, announced in March that the two companies merged effective Jan. 1. The two owners of Zuza and the single owner of Golden State each have one-third interests in the new company, called Zuza LLC.

RF Industries to Buy Vista Company

RF Industries Ltd. said March 11 that it agreed to acquire the business and assets of C Enterprises LP of Vista. Terms of the deal were not disclosed. The acquisition is expected to close by the end of the week.

Florida Turbine Technologies Sellers Put Kratos Shares on Market

The majority of shares will come from the Shirley C. Brostmeyer Revocable Trust and Joseph D. Brostmeyer Revocable Trust. The Brostmeyers are engineers and cofounders of Florida Turbine Technologies, which Kratos bought for a combination of cash and stock.

Achates Power to Develop Range-Extender Engine for Hybrids

With a new, $2 million Department of Energy grant in hand, Achates Power plans to create a highly efficient opposed-piston engine for hybrid vehicles. The University of Michigan and Nissan are partners in the project to build a single-cylinder opposed-piston (OP) engine.

Unmanned Aircraft Ground Control Just Got Easier

General Atomics Aeronautical Systems Inc. publicly announced ;the next piece of technology that will command its advanced MQ-9B remotely piloted aircraft.

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Space Micro Technology Onboard For Israel’s Moon Mission

Israel’s attempt to put a lander on the moon has a local tie.

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All Agree on One Thing, Jack Needs to Make More Money

DINING: $1.5 Million in Average Sales Per Store Lags Top Competitors

On the hunt for a buyer in 2019, Jack in the Box Inc. is working to resolve the challenges and contradictions of the year gone past.

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New President of Solar Turbines Is a Familiar Face

Caterpillar Inc. has named Tom Pellette president of its Solar Turbines subsidiary, effective March 1. He replaces Pablo Koziner, who has a new assignment within the company.

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Kratos Buys Florida Turbine Technologies

Kratos Defense, which has a business building small military drones, may soon build its own jet engines for those aircraft. The San Diego company announced Feb. 28 that it acquired a majority stake in Florida Turbine Technologies Inc. for $60 million.

McCain Gets Municipal Sign Deal

Vista-based McCain Inc. said Feb. 27 that it received a contract from the city of San Jose to supply 13 variable message signs for the city’s downtown wayfinding system.

Sempra Grows 2018 Revenue By 4 Percent

Sempra Energy released its 2018 financial results on Feb. 26, reporting earnings of $924 million on revenue of $11.69 billion. One year ago, it reported earnings of $256 million on revenue of $11.21 billion. Sempra said it still expects to make $5.70 to $6.30 in adjusted earnings per share during 2019.

Tapestry Solutions Receives Weapons Planning Software Deal

Tapestry Solutions Inc., an independent subsidiary of Boeing Co. based in San Diego, received a 10-year contract from the U.S. Air Force for Weapon Planning Software, also known as WPS. The indefinite delivery, indefinite quantity contract is worth a maximum of $259 million.

Jack Evaluating Strategic Alternatives, Sale

DINING: Conflict With Franchisees Said to Rattle Possible Buyers

Jack in the Box Inc., the beleaguered burger chain, took the wraps off first quarter earnings Feb. 20, reaffirming its guidance of flat to 2 percent growth during the year ahead.

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Sempra Declares Dividends on 3 Classes of Stock

The board of Sempra Energy, meeting on Feb. 21, increased the dividend on the company’s common stock by 8.1 percent. The yearly dividend is now $3.87 per share. The company noted it is the ninth consecutive year it has increased its dividend.

PSemi Names New CEO

San Diego chipmaker PSemi Corp. and its parent company, Murata Manufacturing Co. Ltd., have named a new CEO for PSemi. Sumit Tomar will take the job on July 1.

Cubic Cash Dividend to Go Out March 12

Cubic Corp. announced on Feb. 18 that its board approved a semiannual dividend of 13½ cents per share. The dividend is payable on March 12 to shareholders of record on March 1.

Laptop Expands Unmanned Aircraft’s Portability

General Atomics Aeronautical Systems Inc. publicly announced the next piece of technology that will command its advanced MQ-9B remotely piloted aircraft.

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Defense & Technology: Northrop Grumman Gets Fire Scout Work

The U.S. Navy is buying five additional MQ-8C Fire Scout helicopters from Northrop Grumman Corp., as well as two lightweight fuel cells, under a $55.1 million contract modification awarded on Jan. 30.

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Defense & Technology: Viasat Grows Revenue, Takes $10.4M Loss, Places Order for Third ViaSat-3 Satellite

Grow, grow, grow. Satellite communications specialist Viasat Inc. set revenue records for all three of its business segments during the quarter ended Dec. 31.

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Lithium-Battery Maker Flux Power Grows Revenue

Flux Power Holdings Inc. reported a net loss of $2.92 million on revenues of $2.7 million for the second quarter of its fiscal year. Revenue grew 126 percent from the same quarter last year, when Flux had $1.2 million in sales.

Navy Renames Point Loma Labs

SPAWAR Systems Center Pacific, the U.S. Navy’s electronics lab complex on Point Loma, has changed its name to Naval Information Warfare Center Pacific.