- Teledyne Technologies Inc.

, an L.A.-based electronic components and instruments company, reported net income of $15.8 million (46 cents per diluted share) for the first quarter ended April 3, compared with $5.9 million (18 cents) for the like period a year earlier. Revenue rose to $297.5 million from $219.6 million in the year-ago period.


The company's first-quarter revenue figures can be attributed to higher net sales in all four of its divisions, including the Electronics and Communications unit which saw its sales rise to $173.5 million versus $116.4 million in the year-ago quarter.


Income for the first quarter includes $2.5 million gained from an agreement with Honda Motor Co., Ltd. related to Teledyne's piston engine business.


The company expects second-quarter earnings per share to be in the range of 37 cents to 40 cents, and full-year 2005 earnings per share to be in the range of $1.50 to $1.55.


- IndyMac Bancorp Inc. , the Pasadena-based holding company for IndyMac Bank, reported net income of $65.5 million ($1.01 per diluted share) for the first quarter ended March 31, compared with $41.9 million (70 cents) for the like period a year earlier. Revenue rose to $268.1 million from $184.7 million in the year-ago period.


Total assets rose to $18.6 billion from $14.5 billion in the comparable year-ago period. Wilshire Bancorp recorded a provision for loan losses of $2.5 million in the first quarter of 2005, compared with $1.5 million in the year-ago period.


The company expects full-year 2005 earnings to be approximately $4.35 per share, an increase of 30 cents per share over its forecast in January.

- Skechers USA Inc. , a Manhattan Beach-based footwear company, reported net income of $10.3 million (25 cents per diluted share) for the first quarter ended March 31, compared with $7 million (18 cents) for the like period a year earlier. Revenue rose to $246.2 million from $221.5 million in the year-ago period.


The company expects second-quarter sales to be in the range of $245 million to $255 million and earnings per share to be between 21 cents to 26 cents per diluted share.


- PeopleSupport Inc. , an L.A.-based business process outsourcing services provider, reported net income of $2.8 million (15 cents per diluted share) for the first quarter ended March 31, compared with $1.8 million (13 cents) for the like period a year earlier. Revenue rose to $14.1 million from $9.6 million in the year-ago period.


Pro forma net income which excludes charges of $100,000 and non-cash, stock-based compensation charges of $200,000 was $3.1 million (16 cents per diluted share) for the first quarter of 2005, compared with pro forma net income of $2.3 million (16 cents) for the like period a year earlier, which excludes non-cash, stock-based compensation charges of $400,000.


For the second quarter, the company expects revenues to be between $14.4 million and $14.8 million, net income to be in the range of $2.3 million and $2.4 million, and diluted earnings per share to be 12 cents to 13 cents. For the full year, revenue is anticipated to be $57 million to $60 million, net income to be $8.5 to $9.4 million, and diluted earnings per share of 45 cents to 49 cents.


- First Consulting Group Inc. , a Long Beach-based provider of outsourcing and consulting for the health care industry, reported a net loss of $1.3 million (5 cents per diluted share) for the first quarter ended April 1, compared with a loss of $633,000 (2 cents) for the like period a year earlier. Revenue rose to $68.1 million from $65.4 million in the year-ago period.


Included in the first quarter loss was a $1.6 million expense for the premium paid on the repurchase of company stock in a single transaction in February 2004.


The company expects second-quarter revenues to be above $75 million and earnings per share to be in the range of 8 cents to 10 cents per share.

For reprint and licensing requests for this article, CLICK HERE.