– Reliance Steel & Aluminum Co.

, an L.A.-based metals processing services company, reported net income of $46.4 million ($1.41 per diluted share) for the first quarter ended March 31, compared with $29.8 million (92 cents) for the like period a year earlier. Revenue rose to $811.9 million from $655.8 million in the year-ago period.

The company said first quarter results include a $12.5 million (24 cents per diluted share) inventory valuation expense, compared with $27.5 million (51 cents) in the comparable quarter of 2004.

– Wilshire Bancorp Inc.

, the L.A.-based parent company of Wilshire State Bank, reported net income of $6.1 million (21 cents per diluted share) for the first quarter ended March 31, compared with $4.3 million (15 cents) for the like period a year earlier.

Total assets rose to $1.4 billion from $1.1 billion in the comparable year-ago period. Wilshire Bancorp recorded a provision for loan losses of $500,000 in the first quarter of 2005, compared with $897,000 in the year-ago period.

– 21st Century Insurance Group

, a Woodland Hills-based insurance company, reported net income of $19.4 million (23 cents per diluted share) for the first quarter ended March 31, compared with $19.8 million (23 cents) for the like period a year earlier.

The company said first quarter results include a $500,000 capital loss, compared to a $7.6 million capital gain for the same period of last year.

The combined ratio was 95.9 percent in the first quarter, compared to 96.6 percent for the same period in 2004. The company’s statutory surplus increased 0.4 percent to $617.3 million at March 31 from $614.9 million at December 2004. The net premiums written to statutory surplus ratio was unchanged at 2.2 for March 31, compared to Dec. 31.

– Ixia

, a Calabasas-based computer network testing company, reported net income of $9.3 million (14 cents per diluted share) for the first quarter ended March 31, compared with $3 million (5 cents) for the like period a year earlier. Revenue rose to $38.4 million from $24.9 million in the year-ago period.

Ixia said first quarter results included $3.1 million in charges related to acquisitions. Excluding such charges, net income would have been $8.8 million (13 cents per diluted share), compared with $3.7 million (6 cents) for the like period a year earlier.