– Innovo Group, Inc.

, an L.A.-based apparel products company, reported net income of $705,000 (2 cents per diluted share) for the second quarter ended May 28, compared with a loss of $6.7 million (23 cents) for the like period a year earlier. Revenue rose to $29.4 million from $25.6 million in the year-ago period.

– First Regional Bancorp

, the L.A.-based holding company for First Regional Bank, reported net income of $6.4 million ($1.49 per diluted share) for the second quarter ended June 30, compared with $1.9 million (48 cents) for the like period a year earlier.

Total assets grew to $1.5 billion from $980.2 million for the like period a year earlier. The company had a provision for loan losses of $1.5 million for the second quarter, versus $915,000 for the comparable period of the prior year.

– Fleetwood Enterprises, Inc.

will sell the majority of the assets of Fleetwood Retail Center Inc., its manufactured housing retail company, to two units of Clayton Homes Inc. for $74 million. Clayton Homes, a subsidiary of Warren Buffett’s Berkshire Hathaway Inc., will acquire123 retail stores in 21 states. Riverside-based Fleetwood said it recorded an asset impairment charge of $50.8 million for business in the fourth quarter and plans to pay off retail flooring facilities and debts totaling about $80 million. The transaction is expected to close within 60 days.

Also, Fleetwood said Clayton affiliate Vanderbilt Mortgage signed a nonbinding preliminary agreement to buy the company’s manufactured housing finance company, HomeOne Credit Corp. Fleetwood expects to get approximately $70.9 million for HomeOne and intends to use the proceeds to pay off a $40.7 million warehouse credit line.

– Guess Inc.

, an L.A.-based apparel company said its June sales from stores open at least a year rose 11 percent, surpassing analysts’ average estimates. Total sales grew 21.6 percent to $53.8 million for the month. For the second quarter ended July 2, Guess’ same-store sales rose 4.2 percent and total sales increased 14.1 percent to $132.9 million.

– Lowe Enterprises

, an L.A.-based company, acquired five industrial buildings totaling 73,276 square feet in El Monte from Pentair Inc., a diversified company headquartered in Minnesota. Financial details were not released. The buildings currently serve as the office, manufacturing and warehouse space for Pentair’s Water Pool and Spa unit. Pentair will continue to occupy the buildings under a lease agreement.