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Intevac swings to Q2 loss Silicon Valley / San Jose Business Journal

Intevac Inc. on Monday reported a net loss of $937,000, or 4 cents a share, for the second quarter.

Santa Clara-based Intevac (NASDAQ:IVAC), which said the loss included $1.6 million of equity-based compensation expense, had net income of $11.6 million, or 52 cents a share, in the same period a year ago.

Revenues totaled $32.1 million compared to $72.1 million in the year-ago quarter. The equipment and imaging manufacturer said operating expenses for the quarter totaled $15.8 million, or nearly 50 percent of revenues, compared to $17.5 million, or 24 percent of revenues, in the second quarter of 2007. The decline in expense dollars was a result of lower research and development expenditures and legal costs as well as overall cost-reduction initiatives.

By closing Monday, Intevac shares were down 63 cents, or nearly 6 percent, to $10.27. more

Parent of SA Spurs ready to rock ‘n’ roll

Rick Pych, president of business operations for SS&E, says the parent company of the four-time NBA champion Spurs is evolving, and its reorganized management team is looking to bring more sports and more entertainment to San Antonio and South Texas.

On July 15, Spurs Chairman Peter Holt announced that Pych had been named president of business operations for SS&E. The shuffling of the executive ranks did not end there. Head coach Gregg Popovich is now pulling double duty as president of Spurs basketball. And Spurs general manager R.C. Buford has added president of sports franchises to his responsibilities.

Pych says one of the goals moving forward is to establish the AT&T Center/Freeman Coliseum complex — including the surrounding grounds — as a true year-round entertainment destination. more

UnitedHealthcare to pay $800k in North Carolina settlement The

North Carolina also will participate in reviews of United Health's business that are required under the multistate deal.

It's the second time that United Health has reached a monetary settlement with the state in the past five years. In 2004, the company agreed to pay $2.2 million to settle what the state claimed were "systematic problems" with its claims processing, Pearson says.

UnitedHealthcare does not admit any violations of Insurance Department policy or state law under terms of the most recent settlement. Its fine, as required by North Carolina law, will be distributed to the state's public schools.

"Today's agreement provides a meaningful way to assess how we measure up to the high standards of service that people in North Carolina expect," the company said in a statement. more

Rockwood Holdings to Acquire Nalco Surface Treatment Business

Nalco's Finishing Technologies business provides chemicals and services for pre-treating of metal and will become part of Rockwood's Chemetall Americas surface treatment business, once the acquisition is completed. Included in the transaction is Nalco's Finishing Technologies plant in Jackson, Michigan. The transaction is subject to regulatory approval and is expected to close in the third quarter.

Commenting on the transaction, Seifi Ghasemi, Rockwood's Chairman and CEO, "This acquisition is an important addition to Chemetall's surface treatment business and a key part of Rockwood's overall strategy to grow through bolt-on acquisitions. It increases our expanding surface treatment business in North America, and it significantly increases Chemetall's ability to serve the metalworking industry."

Rockwood Holdings, Inc. more

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