For the third quarter ended Dec. 31, the Los Angeles-based sporting goods chain reported net income of $3.8 million (53 cents per diluted share), compared with $3.1 million (44 cents) for the year-earlier quarter.
Revenues rose more than 20 percent to $95.9 million from $79.7 million in the year-ago period. The increase in revenues is the result of opening eight new stores, including one in Arcadia, as well as a same-store sales increase of nearly 7 percent, the company said.
Occidental Petroleum Corp.
The L.A.-based oil and gas production company revised upward its previously reported fourth quarter net income by $77 million.
On Tuesday, the company posted revised net income of $742 million ($1.86 per share) for the fourth quarter ended Dec. 31, after first reporting net income of $665 million ($1.67 per share) on Jan. 24.
The improvement was attributed to an increase in the carrying value of Occidental's stake in Lyondell Chemical Co., due to an increase in Lyondell's book value resulting from its Nov. 30 acquisition of Millennium Chemical Co. There was no cash effect on the company's results.
Computer Sciences Corp.
For the third quarter ended Dec. 31, the El Segundo-based information technology provider reported net income of $157.5 million (82 cents per diluted share), compared with $128.4 million (68 cents) for the year-earlier quarter.
Revenues rose 5.6 percent to $3.5 billion from $3.3 billion in the year-ago period.
For its fiscal year ending April 1, the company anticipates revenue from continuing operations of $14 billion and earnings per share, including discontinued operations, of $3.12 to $3.18.
Cheesecake Factory Inc.
For the fourth quarter ended Dec. 28, the Calabasas Hills-based casual dining restaurant company reported net income of $20.5 million (26 cents per diluted share), compared with $15.6 million (20 cents) for the year-earlier quarter.
Net income for the quarter included a gain of $2 million (2 cents per diluted share) from a property insurance settlement related to bakery product losses incurred by the company's central bakery production facility during fiscal 2002.
Revenues rose 24 percent to $266.1 million from $214.5 million in the year-ago period.
Keystone Automotive Industries Inc.
For the third quarter ended Dec. 31, the Pomona-based auto-body parts distributor reported net income of $4 million (25 cents per diluted share), compared with $4.5 million (29 cents) for the year-earlier quarter.
Net sales rose 8.2 percent to $136.6 million from $126.3 million in the year-ago period.
Health Net Inc.
For the fourth quarter ended Dec. 31, the Woodland Hills-based managed care organization reported a loss of $85.6 million (77 cents per diluted share), compared with net income of $89.3 million (77 cents) for the year-earlier quarter.
The company said the loss was the result of a $252 million pretax charge $169 million to settle disputes with health care providers involving claims processing and payments, $65 million for prior-period reserve developments and $18 million in asset impairment and restructuring charges.
Revenues rose 3.2 percent to $2.9 billion in the fourth quarter of 2003 from $2.8 billion in the comparable period of the prior year.
Health Net predicts it will generate earnings per share between 50 cents and 55 cents for the current first quarter, and between $2.30 and $2.50 for all of 2005.
Chad Therapeutics Inc.
For the third quarter ended Dec. 31, the Chatsworth-based respiratory care device maker reported net earnings of $505,000 (5 cents per diluted share), versus $418,000 (4 cents) for the year-earlier quarter.
Revenues increased 23 percent to $6.4 million in the third quarter from $5.2 million in the year-ago period.
The company predicted net income for the fiscal year ending March 31 will be in the range of $1.8 million and $2 million, or 17 cents to 19 cents per diluted share, on revenues of about $25 million.
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