Earnings Roundup: IMPCO, TMSF Holdings, Kennedy Wilson, 5G Wireless Communications

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IMPCO Technologies Inc.

, a Cerritos-based alternative fuel systems technology company, reported a fiscal 2004 net loss of $14.2 million (77 cents per diluted share), compared with income of $6.9 million (41 cents) for the like period a year earlier. Revenue rose to $118.3 million from $74.7 million in the prior year.


The loss reflects a charge totaling $6.8 million related to the retirement of IMPCO’s high-interest senior subordinated secured notes.


The company also disclosed that a review of its internal controls over financial reporting had identified three material weaknesses. These weaknesses included problematic physical inventory, lack of segregation of duties in one of the company’s foreign locations, and a lack of control over the computation of the realizable value of deferred tax assets.


IMPCO had previously announced fourth-quarter results in mid-January. On March 17, the company said it expected to delay the filing of its annual report on Form 10-K until March 31 to address compliance with Section 404 of the Sarbanes-Oxley Act.



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TMSF Holdings Inc.

, an L.A.-based financial holding company, reported fourth-quarter net income of $2.4 million (16 cents per diluted share), compared with income of $1.6 million (11 cents) for the like period a year earlier. Total loan income for the quarter rose to $17.3 million from $8.5 million in the comparable period of the prior year.



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Kennedy Wilson

, a Beverly Hills-based a real estate investment and services firm, reported fourth-quarter net income of $1.4 million (26 cents per diluted share), compared with a loss of $866,000 (11 cents) for the like period a year earlier. Revenue for the quarter fell to $6.3 million from $7.9 million in the comparable period of the prior year.



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5G Wireless Communications Inc.

, a Marina del Rey-based wireless broadband company reported a fiscal 2004 net loss of $5 million, compared with a loss of $2.2 million the previous year. Revenue rose to $651,450 from $167,302.

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