Builders report leap in home sales Newport...

Builders report leap in home sales

Newport Beach homebuilders William Lyon Homes reported a 33%

increase in sales for the first quarter of 2005. The company

announced its results Tuesday.

The company made $20.5 million more over the first three months of

2005 than the same period last year. William Lyon Homes closed sales

on 459 homes during first quarter 2005, down from 603 homes at the

beginning of last year.

On April 26, company founder William Lyon disclosed his plans to

buy out the firm’s minority stockholders at a price of $82 per share.

The firm’s board of directors has created a special committee to

examine Lyon’s announcement. The company announced Tuesday that seven

purported class action lawsuits have been filed in Delaware and

California in an effort to block Lyon’s proposal.

Donations being collected for troops

People interested in donating supplies to U.S. troops posted

overseas will be able to drop off items at Newport Beach’s Stefan

Kaelin Ski & Golf. The store is the Orange County collection point

for Operation Gratitude’s Patriotic Drive.

Donations can range from foodstuffs like powdered beverages, beef

jerky and snack bars to CDs, DVDs and disposable cameras. Goods will

be collected through May 25.

Operation Gratitude is an Encino-based group that sends care

packages to U.S. soldiers, sailors, Marines and airmen. Donations are

expected to reach their destinations by July 4.

Stefan Kaelin Ski & Golf is at 2700 W. Coast Highway, Newport

Beach.

Irvine Sensors’ revenues up 76%

Costa Mesa-based Irvine Sensors Corp. reported revenues of $10.3

million over the first half of its 2005 fiscal year Wednesday. The

amount was a mid-year record for the company.

Mid-year revenues were up 76% compared with 2004 mid-year

earnings. Irvine Sensors credited the revenue increase with an

improvement in the firm’s loss figures. Loss for the period ending

April 3 was reported at about $1.3 million, almost half of the $2.5

million lost over the first half of fiscal year 2004.