Earnings Roundup: Mercury General Corp., Diodes, Wellpoint, Intermix Media, Activision

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Mercury General Corp.

For the fourth quarter ended Dec. 31, the Los Angeles-based automobile insurer reported net income of $74.1 million ($1.36 per diluted share), compared with $49.2 million (90 cents) for the year-earlier quarter.


Included in the most recent fourth quarter’s net income are net realized investment gains of $4.2 million (8 cents per diluted share), versus $3.8 million (7 cents) for the year-ago period.


Mercury reported net premiums written of $674.2 million in the fourth quarter, versus $591.4 million for year-ago period. Combined ratio was 88.6 percent, compared with 94.1 percent for the fourth quarter of 2003.



Diodes Inc.


For the fourth quarter ended Dec. 31, the Westlake Village-based semiconductor company reported net income of $7.3 million (47 cents per diluted share), compared with $3.4 million (23 cents per share) for the year-earlier quarter.


Revenues rose 22 percent to $47.9 million in the fourth quarter of 2003, from $39.2 million in the year-ago period.



Wellpoint Inc.


For the fourth quarter ended Dec. 31, the Indianapolis-based health insurance company reported net income of $184.5 million (92 cents per diluted share), compared with $208.8 million ($1.47) for the like year-ago period.


Net realized investment gains were 1 cent per share, a versus gain of 4 cents per share in the year-ago period. Wellpoint’s fourth quarter results included a loss of 60 cents per share due to a surplus note repurchase and expenses of 39 cents related to the Nov. 30 merger between Indianapolis-based Anthem Inc. and Thousand Oaks-based WellPoint Health Networks. The merger was valued at $16.3 billion.


Revenues increased 63 percent to $6.2 billion from $3.9 billion for the fourth quarter of 2003.


For the current first quarter, net income is expected to be approximately $1.82 per share, the company said.



Intermix Media Inc.


For the third quarter ended Dec. 31, the L.A.-based Internet marketing firm reported net income of $38,000, versus a net loss of $2.1 million in the comparable quarter of 2003. Revenues rose to $20.3 million, compared with $14.1 million for the same quarter of last year.


For the fourth quarter of fiscal year 2005 ending March 31, Intermix expects to report revenue of between $21 million and $22 million. Fiscal year 2005 revenue is estimated to be approximately $76 million to $77 million, a growth in annual revenue of approximately 33 percent to 35 percent.



Activision Inc.


For the third quarter ended Dec. 31, the Santa Monica-based videogame publisher reported net income of $97.3 million (63 cents per diluted share), compared to $77 million (53 cents per share) in the like-period quarter of 2003. Revenues rose to $680.1 million from $508.5 million for the same quarter of last year.


For the fourth quarter of fiscal year 2005, the company expects earnings per diluted share of 1 cent.


For fiscal year 2006, which begins in April 2005, net revenues are estimated to be $1.43 billion and earnings per diluted share will be around 91 cents. For the first quarter of fiscal year 2006, the company expects net revenues of $215 million and earnings per diluted share of 2 cents.

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