– Jakks Pacific, Inc.
, a Malibu-based toy maker, reported net income of $10.1 million (34 cents per diluted share) for the first quarter ended March 31, compared with $3.8 million (15 cents) for the like period a year earlier. Revenue rose to $134.7 million from $74 million in the year-ago period.
Jakks attributed the rise in first-quarter revenue to strong sales of its Plug-It-In and Play TV Games and its new Fly Wheels vehicle line.
The company reaffirmed its guidance for 2005, saying it anticipates approximately $660 million in revenue and net income of nearly $70 million ($2.28 per diluted share).
– FirstFed Financial Corp.
, a Santa Monica-based savings-and-loan holding company, reported net income of $18.5 million ($1.10 per diluted share) for the first quarter ended March 31, compared with $15 million (86 cents) for the like period a year earlier.
Total assets rose to $8.4 billion from $5.2 billion in the comparable year-ago period. FirstFed Financial Corp. recorded a provision for loan losses of $3.8 million in the first quarter of 2005, compared with no provision for loan losses in the year-ago period.
– Cash Technologies Corp.
, an L.A.-based e-commerce company, reported net income of $136,585 (a loss of 2 cents per diluted share) for the third quarter ended Feb. 28, compared with a loss of $1.1 million (12 cents) for the like period a year earlier. The per-share loss for the latest quarter resulted from a preferred dividend payment of $464,010, which threw net income available to common shareholders into a loss.
Revenue for Cash Technologies rose to $3.1 million from $25,998 in the year-ago period. The company said the rise in revenue resulted from more than $3 million in sales raised from its TAP subsidiary, which was formed in November 2004.
& #8226; Ryland Group Inc.
, a Calabasas-based homebuilder, reported first quarter net income of $62.7 million ($1.25 per diluted share), compared with $52.4 million ($1.03) for the like period a year earlier. Revenue rose to $874 million from $754.6 million in the year-ago period.
Ryland said homebuilding revenues for the first quarter rose to $858.4 million, compared to $738 million for the same period in the prior year.
The company anticipates that diluted earnings per share will exceed $7.50 for all of 2004.
& #8226; City National Corp.
, the L.A.-based parent company of City National Bank, reported first quarter net income of $55.5 million ($1.09 per diluted share), compared with $50.9 million ($1) for the like period a year earlier. Revenue rose to $196.8 million from $177.5 million in the year-ago period.
Total assets rose to $13.9 billion from $13.2 billion in the comparable year-ago period. City National Corp. recorded no provision for loan losses in the first quarter of 2005, unchanged from the year-ago period.
