“With this acquisition, Mobix Labs will decrease the time necessary to develop cutting-edge wireless communications and integrated circuit products for its customers, particularly in the fast-growing mmWave 5G sector,” said Fabian Battaglia, CEO of Mobix Labs, in a statement yesterday announcing the purchase.

The closing is expected this month.

Shares in Mobix Labs closed up 3.5% at $2.96 per share for a market cap of $76.4 million.

For further details, see the May 20 print edition.

The post Mobix Labs to Buy RaGE Systems appeared first on Orange County Business Journal.

After the news, shares dropped 31% to $8.50 apiece during midday trading with a market cap of $479 million (NYSE: XPOF).

Xponential, which reported earnings on May 2, said on May 7 it received notice of an investigation by the United States Attorney’s Office (USAO) for the Central District of California. The fitness franchise operator in December disclosed an investigation by the Securities and Exchange Commission (SEC). The company’s board has formed a special committee of directors to investigate both matters.

Morris joined the Xponential board in 2019 and counts over 35 years in finance, accounting and operations roles. She is currently a partner at executive services firm CSuite Financial Partners.

“Over the last five years, Brenda has been a deeply involved Board member as we have pursued Xponential’s mission to make health and wellness accessible to everyone,” Chairman Mark Grabowski said in a statement.

Xponential reaffirmed its full-year 2024 guidance of opening 550 new studio locations and $1.7 billion in systemwide sales announced in May.

The post Xponential Fitness Removes CEO appeared first on Orange County Business Journal.

Registration (all attendees):  5:00 p.m. – 6:15 p.m.
VIP Reception (Sponsors and Nominees only):  5:00 p.m. – 6:15 p.m.
Dinner & Program:  6:30 p.m. – 8:30 p.m.

THE CFO OF THE YEAR AWARDS are presented to area financial professionals for outstanding performance as corporate stewards for the preceding fiscal year. Awards are presented in five categories:

• Outstanding CFO of a Public Co.
• Outstanding CFO of a Private Co.
• Outstanding CFO of a Not-for-Profit Organization
• Rising Star (Nominees for the Rising Star Award are not limited to CFOs)
• Lifetime Achievement (open to past CFO Award winners of other categories)

*Tickets are non-refundable. Ticket price includes a one-year subscription to the Orange County Business Journal (*$30 allocated to the subscription). New subscribers only. Current subscribers may gift the subscription to a colleague.

Master of Ceremonies

Congratulations to the 2024 Winners!

Public Company: Sandra Beaver, Evolus Inc.
Private Company: Joyce Pae, Verus Aerospace
Not-For-Profit Company: John Ing, Illumination Foundation
Rising Star: Tim Hoffman, Ossur
Lifetime Achievement: Guita Sharifi, Lifelong Learning Administration Corp.

*Video Recording Coming Soon*

Sponsored by

Diamond Sponsors

Platinum Sponsors

Gold Sponsors

Silver Sponsors

The post 2024 CFO of the Year Awards – Past Event appeared first on Orange County Business Journal.

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May 10

ADVERTISING

American Vanguard Corp. (NYSE: AVD) fell 25% to $9.46 a share and a $263 million market cap. The Newport Beach-based agricultural products company yesterday reduced its projected annual sales growth from as much as 12% to a maximum of 9% after the company suspended sales of its Dacthal herbicide “in light of concerns raised by the U.S. Environmental Protection Agency,” CEO Eric Glenn Wintemute told analysts.

ENERGY

Clean Energy Fuels Corp. (Nasdaq: CLNE) climbed 9.8% to $2.65 a share and a $580 million market cap. The Newport Beach-based renewable natural gas supplier today released first-quarter results that beat analysts’ estimates.

INDEXES

The yield on a 10-year Treasury bond rose 1.2% to 4.50%.

–Kaitlin Aquino

May 9

BIOPHARMA

CG Oncology Inc. (Nasdaq: CGON) fell 2.5% to $31.64 and a $2.1 billion market cap. The Irvine-based immunotherapy company today reported first-quarter loss of 36 cents a share, wider than the 31-cent loss expected by four analysts. See Monday’s print issue of the Business Journal for more details.

HEALTHCARE

ICU Medical Inc. (Nasdaq: ICUI) rose 4.5% to $105.14 and a $2.5 billion market cap. The San Clemente-based maker of devices for IV infusion reported first-quarter revenue of $566.7 million on May 7, topping analysts’ consensus of $522.3 million.

May 8

MEDTECH

Staar Surgical Co. (Nasdaq: STAA) declined 15% to $39.55 and a $2 billion market cap. The Lake Forest-based provider of implantable eye lenses yesterday maintained its 2024 sales forecast, citing a macroeconomic headwinds.

Masimo Corp. (Nasdaq: MASI) fell 14% to $116.92 and a $6.2 billion market cap. The Irvine-based maker of oxygen monitoring devices yesterday forecast revenue and adjusted profit for the second quarter and year that may not meet some analysts’ expectations.

                                                                                                    —Peter J. Brennan

May 7

—

May 6

May 3

HEALTHCARE

Alignment Healthcare Inc. (Nasdaq: ALHC) soared 26% to $6.63 per share with a market cap of $1.3 billion. The Orange-based firm yesterday reported first quarter revenue of $629 million showing a 43% increase year over year, which surpassed its Q1 revenue forecast of $590 million to $600 million.

RESTAURANTS

Costa Mesa-based El Pollo Loco Holdings Inc. (Nasdaq: LOCO) jumped 16% to $9.95 apiece and a $310 million market cap. The restaurant chain’s first quarter sales profit beat analysts’ average estimate of 14 cents per share. Yesterday, El Pollo Loco reported net income of $5.9 million, or 19 cents per diluted share, for the quarter ended March 27, 2024.

INDEXES

The S&P 500 rose 1.2% to 5,125.12, the Dow was up 1.2% to 38,665.37 and the Nasdaq increased 1.9% to 16,148.93 during midday trading.

The Labor Department reported today a slowdown in hiring with U.S. employers adding 175,000 jobs in April, which was below expectations.

The yield on a 10-year Treasury bond fell 1.33% to 4.51%.

–Emily Santiago-Molina

May 2

HEALTHCARE

The Ensign Group Inc. (Nasdaq: ENSG) fell 2.3% to $116.73 apiece and a $6.6 billion market cap. The San Juan Capistrano-based healthcare services firm yesterday reported first quarter adjusted revenue of $1 billion, up 14% over the prior year, and diluted earnings per share of $1.19, an increase of 13% from a year ago.

While the company’s adjusted first quarter profit exceeded consensus estimates, Ensign reiterated its full year forecast. The shares last month reached an all-time high of $127.58.

TECHNOLOGY

Santa Ana-based TTM Technologies Inc. (Nasdaq: TTMI) jumped 9.8% to $16.23 per share with a market cap of $1.6 billion. The tech manufacturer yesterday reported first quarter net sales of $570 million and net income of 10 cents per diluted share, which beat the general analyst consensus.

INDEXES

The Nasdaq increased 1.2% to 15,785.13 during midday trading.

–Emily Santiago-Molina

May 1

TECHNOLOGY

Skyworks Solutions Inc. (Nasdaq: SWKS) declined 15% to $90.17 and a $14.5 billion market cap. The Irvine-based chipmaker yesterday forecast third-quarter results that will miss analysts’ consensus estimates. For more on Skyworks, see the May 6 print issue of the Orange County Business Journal.

The post Midday Stock Roundup: American Vanguard Down 25% appeared first on Orange County Business Journal.

DisneylandForward is a development agreement that now allows the Disneyland Resort to build new attractions, hotels and parking within the Disney-owned site of 500 acres over the next few decades.

The vote on zoning changes and ordinances needed for the project follows approvals from the Anaheim Planning Commission in March and the council’s initial approval from April.

The entertainment company has not shared specifics on development plans yet.

The Disneyland Resort, Orange County’s largest employer with a headcount of 35,000, also agreed to invest at least $1.9 billion in the city during the first 10 years of development upon approval of the project.

“Depending on what’s built, Anaheim is projected to see $15 million to $244 million in additional yearly revenue at complete buildout of what’s allowed,” the city of Anaheim said in a statement.

The post DisneylandForward Expansion Project Receives Final Approval appeared first on Orange County Business Journal.

“I’ve always found some passion identifying areas of opportunity that people underappreciate,” Shupe told the Business Journal.

His first venture, San Clemente-based Stance, was created to expand an overlooked part of the apparel segment, socks. The company is now reported to do well over $100 million in sales.

Shupe left the brand in 2018 to enter the larger industry of textile manufacturing, a space where he believed he could make a more meaningful impact.

“I had been immersed in factories for the better part of a decade that were built to follow a low-cost, high-output investment model,” Shupe said of the shift to FutureStitch.

The executive recalled two different factory tours that were part of his motivation to create a new manufacturing business model designed to prioritize environmentally safe methods and high employee retention, while also making a profit.

“The vision is to own the entire product lifecycle—meaning we own the raw material production and finishing, we’re able to market then sell the product to the end consumer, and then recapture that product and turn it into something new,” Shupe said.

The first tour was at the cusp of starting Stance alongside co-founders Jeff Kearl, John Wilson, Ryan Kingman, and Aaron Hennings. Shupe visited a potential supplier’s factory that “was so dilapidated” with black mold and a falling ceiling.

During the second year at Stance, Shupe was able to see a Crocs manufacturing facility in China— “I had never seen a factory that was so clean,” he said.

FutureStitch’s 280,000 square-foot Shanghai facility opened in 2018 and is now said to be the most energy efficient knitting facility in the world by LEED standards. The company’s Oceanside facilities, which opened in 2022, span approximately 20,000 square feet with FutureStitch currently searching for a larger footprint.

The San Clemente-based company works with Stance, Lulu Lemon, Toms and most recently added New Balance.

Shupe was one of five honorees at the Business Journal’s Excellence in Entrepreneurship Awards, held March 20 at the Irvine Marriott.

Second Chances

Shupe was determined to challenge whatever perceptions existed at the forefront of the industry he was entering.

At FutureStitch, this went beyond the operations of manufacturing. Shupe wanted to put people before profit.

Shupe founded a program called Second Stitch where the manufacturer employs formerly incarcerated people.

“The problems of the prison system are the duration, the lack of skill building, and what happens after,” Shupe said.

There are currently 14 employees from Second Stitch at the Oceanside factory and Shupe aims to have 40 by the end of the year. He eventually wants to promote the employees beyond production roles and move them into other parts of the business.

“Giving someone a second chance is as important to me as the products I produce,” he said. “I saw an entrepreneur, not a criminal.”

Second Stitch has seen a 0% recidivism rate since its founding, meaning none of the employees have returned to the prison system.

“Everything I do has a correlated commercial benefit,” Shupe said. “I want business owners to understand that there is a method to enhancing your environment and culture that will increase productivity and profits as a result.”

Double Time

FutureStitch has a new area factory in the works.

The new facility would join the company’s existing Oceanside location, a factory in China and a joint venture operation in Turkey. The company secured a lease for a second building next door to the Oceanside factory last year.

Shupe said he was currently looking at properties and was close to securing a new location. The company is looking for a 12-acre site that would house not only the factory but a farm, housing, a school and more.

It would also provide more opportunities for the Second Stitch program and its participants.

Hyper localization is a future goal, Shupe said, with plans to have a factory within a few hundred miles of each market. He said he could even design factory models that could be franchise owned.

Another factory would also help in FutureStitch’s goal to double its business by 2026. The company made $50 million in sales last year.

Product Wise

Manufacturing new consumer offerings beyond socks, compression sleeves and knit shoe uppers are on the table as well, according to Shupe. His focus on circular knitting provides an opportunity to do so.

“If I could do one thing in my life on the product side, it would be to completely undermine, if not, destroy the sock market,” Shupe said of what the business could achieve in the future.

Using circular knit, he could “create footwear that is so comfortable, never requires socks and is seamless,” Shupe said. “That’s my whole thing—to create a new offering that’s convenient, ecologically friendly, helps lower costs overall and allows me to create jobs.”

He said that FutureStitch was partnering with MIT to operate two of its machines to set up a knit lab at the university to work on this innovation.

Shupe knew from the beginning that to build a business like FutureStitch, it was going to require trial and error. He said he was lucky enough in his last venture to fund the new company with a majority of his own capital, which went to the Oceanside building.

“I don’t ever want to give the impression that what I’ve done is super easy,” he said. “I want this to be a durable business that withstands time.”

The post Taylor Shupe: Making the First Stitch appeared first on Orange County Business Journal.

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“He had a severe dilated aortic,” recalled Larry Wood, an Edwards executive. “If that ruptures out of the hospital, the mortality rate is very high.”

But Edwards detected the condition in time.

“He had open-heart surgery in less than a week,” Wood recalled.

The NFL veteran’s potentially fatal condition was discovered during a study by Irvine-based Edwards (NYSE: EW) that included screening 498 retired NFL players and their families for hypertension: 84% were positive, while only 47% had self-reported a history of it.

“You’re talking about people who were elite, world-class athletes,” Wood said. “Generally, they think they’re in good health.

“But more than half the people had hypertension and didn’t know they had it.”

Moreover, of all those in the U.S. who received Edwards’ heart valve replacement to remedy the problem, only 3.9% were African American, while African Americans comprised about 14% of the nation’s population in 2022, according to the Pew Research Center.

“It was shocking to me,” said Wood, who heads Edwards’ unit that developed the valve replacement, known as TAVR, for transcatheter aortic valve replacement. “It highlighted the disparity in care.”

Woods said he doesn’t think African Americans suffer fewer heart problems.

Instead, Jerry Abraham, president the Los Angeles County Medical Association and a board member of the California Black Health Network, cites a lack of access to healthcare.

Along with distrust among African Americans of the medical profession, part of a legacy of the infamous Tuskegee experiment, a 40-year study by U.S. public health agencies in which the effects of untreated syphilis on 399 African American men were studied, with most not given penicillin, even after it was discovered as an effective treatment.

Today, Wood said, “It’s tricky to do a study on Black people. It becomes a lightning rod.”

NFL Alumni

Wood, after talking with his friend, former San Diego Charger kicker Rolf Benirschke, came up with the idea of studying former NFL players, about 60% to 70% of whom are African Americans.

“We realized that by working with the NFL Alumni Association and through this unique network of former players, we might be able to gain a greater understanding of how heart disease is impacting underserved populations, and how education, awareness and simple screening tools can save lives in these communities and in the entire nation as a whole,” Wood said.

Edwards said that more than 80% of those with heart valve disease go undiagnosed or untreated, and the undertreatment rate is significantly higher in underserved communities.

Unlike other progressive diseases, such as cancer, there is no age-mandated screening for heart valve failure, Edwards said.

To expand cardiac screenings and heart treatment in minority communities, Edwards has partnered with the Los Angeles Rams in an outreach program called “Off the Sidelines”.

Severe aortic stenosis, a form of heart valve failure, is the most common type of heart valve disease, affecting as many as 1.6 million older Americans.

Though it is deadly—once heart valve disease progresses to heart valve failure, up to 50% of sufferers die within two years—it is also treatable through open-heart surgery or a transcatheter heart valve replacement procedure.

Huddle Up

Edwards began the study, called Huddle, in 2021 by examining the prevalence of heart disease and associated risk factors among members of the NFL Alumni Association and their families.

Conducted across eight U.S. cities in cooperation with NFL Alumni Health, a subsidiary of the NFL Alumni Association, Huddle was a cross sectional study of NFL alumni and their family members aged 50 years and above. The participants were mostly male, 67%, and African American, 63%.

The study participants self-reported their medical histories and participated in heart health education and screenings that included blood pressure, electrocardiogram (EKG) and echocardiogram.

The noninvasive tests could find problems like heart arrhythmia, an irregular heartbeat caused by electrical problems, and hypertension, which can be early signs of stroke and aneurysms.

One participant went straight from the testing to the hospital, Wood said. Another player, about three days after an event, was on a ladder when he noticed symptoms he learned about and immediately identified it as a stroke.

“We detected early stages of heart failures in half of patients,” Wood said. “We’re glad that our study helped people.”

The study didn’t examine whether the athletes were affected by the notorious misuse of steroids, Wood said, adding that the game was much cleaner by the 1980s.

Besides the hypertension results, of all participants screened and found to have an elevated systolic blood pressure, a surprising 74% were also found to have structural heart changes present on a transthoracic echo sonography (TTE).

“These alarming results are a call to action,” said Dr. Michael Amponsah, an interventional cardiologist at the Banner Boswell Medical Center in Peoria, Ariz. “The disparities highlighted in the cohort involved in the Huddle study point to a significant opportunity to examine a greater role for routine age-based screening, and especially for the expanded use of echocardiogram to better identify undetected or undiagnosed heart disease and heart failure.”

The results were presented April 7 during a clinical trials session at the American College of Cardiology and published simultaneously in The Journal of the American College of Cardiology.

Wood said the millions of dollars Edwards spent on the study would not have been justified by an expected return on investment for the company.

“If we detect hypertension early, we may stop people from getting our products,” Wood said. “We’re in the business of helping people, not accelerating heart diseases.

“It’s a real passion project for several of us. Part of our responsibility as a successful company is how to use our resources—to be givers, not just takers.”

Edwards and the Rams

The Los Angeles Rams has teamed up with Edwards Lifesciences Corp. for a new community outreach program for heart testing, “Off the Sidelines.”

Edwards was also the official sponsor of the Rams Legends Community for the 2023 season to raise awareness of heart valve disease and make screening for heart valve failure part of the game plan for everyone 65 and older.

“Off the Sidelines” featured heart valve screening events open to Rams Legends, or former players, to determine if they are at risk for heart valve failure. In addition, the Los Angeles Rams and Edwards Lifesciences brought free heart valve screenings into communities across Southern California.

“The partnership is still in the earlier stages,” said Larry Wood, who heads two of Edwards’ biggest units. “They’ve been spectacular partners. We’re contributing our medical know how to figure out how we can make a difference.”

To kick off the partnership last summer, Edwards hosted a screening for the Rams Legends Community in Irvine prior to the Legends’ Day Training Camp practice.

“Our hope is that this partnership with the Legends community will bring awareness to heart valve failure and encourage people, especially those over 65, to take action,” Wood said.

—Peter J. Brennan

Busy Week at Edwards

Edwards Lifesciences Corp. is busy this week.

Mike Mussallem, who retired as chief executive last year, is also leaving his post as chairman. The company’s annual meeting is scheduled for May 7.

He will be succeeded by independent director Nicholas Valeriani, an Edwards board member since 2014, who has more than 40 years of experience in medtech companies, including as an executive vice president at Johnson & Johnson.

The company is also preparing for its eighth annual event that brings together patients from across the country to meet the Edwards teams that designed, and in some cases, hand-sewed the valves that are in their hearts.

The May 9 event will also feature patient advocacy organizations including the American Heart Association, Aortic Hope, Heart Valve Voice US, Global Heart Hub and the Alliance for Aging Research.

Key to Edward’s Fortunes: Larry Wood

Edwards Lifesciences Corp. has been one of Orange County’s most successful publicly traded companies, having grown from a $1 billion market cap in 2000 when it was spun off from Baxter International, to a $52 billion market cap at press time (NYSE: EW).

Playing a key role has been Larry Wood, who has been running Edwards’ Transcatheter Aortic Valve Replacement unit (TAVR) since its inception in 2007.

The unit, Edwards’ biggest, generated $3.9 billion of the company’s $6 billion in sales in 2023.

Longtime Edwards Chief Executive Mike Mussallem, who retired last year, said Wood started the TAVR business from scratch.

Wood has “dedicated 20 years of his career to create probably one of the greatest innovations in cardiovascular medicine, if not more broadly than any of us has seen,”

Mussallem told investors at the company’s annual meeting last year.

A year ago, Wood took on an expanded role as group president, with additional leadership responsibility for Surgical Structural Heart, which reported $1 billion in 2023 sales, and other key company initiatives.

The company on April 25 reported first-quarter sales rose 10% to $1.6 billion. It also boosted its annual forecast for sales to grow at the high end of its prior guidance of 8% to 10%, $6.3 billion to $6.6 billion. Wood’s TAVR unit boosted sales 6% to $1 billion while the Surgical Structural Heart unit was up 7% to $266 million.

“This encouraging start to the year supports our increased 2024 sales guidance,” CEO Bernard Zovighian said in a statement.

The post Edwards, NFL Tackle African American Cardiac Disease appeared first on Orange County Business Journal.

Skyworks Solutions Inc. forecast on April 30 that its fiscal third-quarter sales and adjusted profit will be much lower than analysts expected. It cited slowing mobile device sales. Shares dropped 15% in the following trading session to $90.30, for a $14.4 billion market cap (Nasdaq: SWKS).

Skyworks, which makes semiconductors for cellphones and automobiles among other products, said its mobile business slowed in March and April, which may indicate problems for its largest customer, Apple Inc.

Across town, Lantronix Inc. on April 29 posted fiscal third-quarter earnings that beat analysts’ estimates. It surged 8.7% to $3.76 and a market cap approaching $150 million (Nasdaq: LTRX).

Revenue at Lantronix, which makes devices to connect products to the internet, is accelerating as it focuses on three verticals: smart cities, automotive and enterprise.

“I’m very optimistic about the future, given our strong products and solutions, our growing customer engagement, and our improving EBITDA and solid balance sheet,” Chief Executive Saleel Awsare said on a conference call with analysts.

SWKS

Skyworks forecasts third-quarter adjusted profit of $1.21 a share on sales of $900 million, below the $1.47 a share and $1 billion in revenue expected by analysts.

“During the March quarter, in our mobile business, we saw below normal seasonal trends, with lower-than-expected end-market demand,” Chief Executive Liam Griffin said in a statement.

A criticism of Skyworks is that it relies too heavily on one customer—Apple, which in the second quarter provided 68% of Skyworks’ revenue. Even so, Griffin said Skyworks undeservedly lost business.

“We were placed in a unique situation with our largest customer where we were unable to consummate an award that we expected and, frankly, thought we had earned,” Griffin told analysts on a call.

That loss may have been to rival Qualcomm Inc. of San Diego, Oppenheimer analyst Rick Schafer wrote in a note to investors. Skyworks indicated that that it lost more than 10% of its typical content in the coming iPhone 16, according to Schafer.

“Reduced content combined with iPhone units expected down more than 5% this year paves a bumpy road to 2024 growth” for Skyworks, Schafer wrote.

Skyworks is facing a period of declining revenue that dropped 13% in fiscal 2023 and analysts expect it to fall another 7.3% this year to around $4.4 billion; they estimate fiscal 2025 revenue will rebound 6.8% to $4.7 billion.

The reduced revenue is due to excess inventory that “is not a major correction” and it will be fixed in the third quarter that ends in June, Skyworks Chief Financial Officer Kris Sennesael told analysts.

However, analysts are skeptical, predicting fourth-quarter sales will fall 4.5%.

The company is still by far the most valuable publicly traded tech company with headquarters in Orange County; overall, it is the third most valuable company.

While industries such as cellphones, industrial and automotive are “under pressure,” Griffin said it’s in the “early innings of a multiyear upgrade cycle,” specifically pointing to artificial intelligence being installed on cellphones.

“There are going to be upgrades on the devices and it’s going to drive tremendous power. And power is really, really important,” he said. “The burden on technology in the smartphone world is really going to go up and it’s going to narrow the playing field. And I love our chances. We’ve got a great business.

“We’re definitely anticipating some upside here.”

Griffin also mentioned the importance of Internet of Things, also known as IoT, a segment where a lot of different products such as water meters are connected to the internet.

“Over the long term, we intend to leverage our connectivity technology across edge connected IoT devices, automotive electrification and advanced safety systems, and AI infrastructure,” he said.

LTRX

Lantronix, which calls itself an IoT company, makes more than 50 products for industries like robotics, medical devices and video conferencing. The company has several alumni of former Aliso Viejo-based chipmaker Microsemi Corp., whose former CEO Jim Peterson has a large stake in Lantronix.

The third-quarter result is among the first bits of good news for Awsare since he was named as its new CEO last November, replacing Paul Pickle, who resigned to pursue another opportunity as CEO of Semtech Corp. (Nasdaq: SMTC).

Awsare previously was senior vice president of the enterprise and mobile division at semiconductor maker Synaptics Inc.

On Feb. 9, Lantronix shares dropped 33% to $3.92 after the company reported fiscal second-quarter results below analyst estimates and lowered its fiscal 2024 forecast.

Last week, Lantronix reported fiscal third-quarter revenue jumped 25% to $41.2 million, topping the analyst consensus at $40.2 million. It also posted an adjusted profit of 11 cents, which also topped the average 10 cent estimate.

Importantly, Lantronix confirmed that revenue is accelerating by forecasting fourth-quarter sales between $46.5 million to $51.5 million, implying growth from 33% to 48%.

Since touching a 52-week low of $3.08 in early April, shares are now up 22%.

The three verticals where it’s competing have a combined total addressable market of $8.5 billion, with an annual growth rate around 12%, Awsare said.

“We see both computer and connected technologies converging at the edge of the network, and that’s exactly where we play with our core capabilities and solutions,” he said.

“I expect over the longer term we can grow at or really better than the market.”

The post Skyworks’ Revenue Falls; Lantronix Stock Surges appeared first on Orange County Business Journal.