Business Briefs: LAWA, IHOP, Kilroy Realty, Electro Rent

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& #8226; Los Angeles World Airports

reported that Los Angeles International Airport set a new record for passenger volume by serving 17.5 million international passengers in 2005, a 6 percent gain over 2004. Total passenger volume at LAX rose 1.3 percent in 2005 to 61.5 million. Air freight handled at LAX was 2.08 million tons, which surpassed the previous record of 2.02 million tons set in 2004. Total air cargo mail and freight processed at LAX rose 1 percent to 2.1 million tons from the year-ago period.



– IHOP Corp.

said it expects full-year earnings of $2.25 to $2.35 a share, fueled by same-store sales growth of 2 percent to 4 percent and the addition of 64 to 69 new restaurants to the IHOP system. Excluding the effect of $2.5 million to $3.5 million of stock option expense, the Glendale operator of pancake restaurants expects earnings of $2.35 to $2.45 per share. Increased television advertising and menu improvements are expected to help drive same-store sales, the company said in a statement.



– Kilroy Realty Corp.

reported a fourth-quarter net loss (after payment of preferred dividends) of $1.6 million (6 cents per share), compared with income of $3.3 million (12 cents) for the same period a year earlier. Revenue for the Los Angeles-based mortgage real estate investment trust rose to $61 million from $57.2 million in the year-ago period.


Funds from operations totaled $8.5 million (26 cents per share), compared with $19.1 million (59 cents) in the fourth quarter of 2004.


– Electro Rent Corp.

completed its acquisition of Rush Computer Rentals Inc., purchasing the Wallingford, Conn.-based privately held company in a $9.5 million cash deal. Van Nuys-based Electro Rent also agreed to make a payment based on Rush Computer meeting certain financial objectives. Rush Computer generated full-year revenue of approximately $10 million from the rental and sale of personal computers to customers in the Northeast.

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