Macerich Co.

The Santa Monica-based real estate investment trust reported fourth-quarter net income to common stockholders, after payment of preferred dividends, of $30.0 million (51 cents per diluted share), compared with $25.5 million (44 cents) for the like period a year earlier. Revenue rose to $167 million from $145 million in the fourth quarter of 2003.


Funds from operations in the fourth quarter ended Dec. 31 totaled $90 million, or $1.16 per share.


During the quarter, Macerich signed 208,000 square feet of specialty store leases at average initial rents of $38.92 per square foot. The company also announced an agreement to acquire Wilmorite Co. for $2.33 billion.


MRV Communications Inc.
The Chatsworth-based network infrastructure equipment producer reported fourth-quarter net income of $918,000 (1 cent per diluted share), compared with a loss of $4.9 million (5 cents) for the like period a year earlier. Revenue rose to $81.9 million from $69.1 million in the year-ago quarter.


The company expects revenue for 2005 to be in the range of $65 million to $70 million.


Image Entertainment Inc.
The Chatsworth-based network home entertainment company reported fourth-quarter net income of $2 million (10 cents per diluted share) compared with a loss of $8.3 million (45 cents per share) for the like period a year earlier. Revenue rose 51 percent to $34.4 million.


The company expects revenue growth for fiscal 2005 to be between 36 percent and 39 percent, resulting in net revenue ranging between $116 million and $118 million.


The financial results exclude those of Image's wholly owned subsidiary, DVDPlanet Inc., which sold its assets in September 2003 and was dissolved in December 2004.


Digital Theatre Systems Inc.
The Agoura Hills-based digital audio and video component producer reported fourth-quarter net income of $192,000 (1 cent per diluted share), compared with $3.3 million (20 cents) for the like period a year earlier. Revenue rose 12 percent to $16.6 million.


Included in the net income for the most recent fourth quarter was a charge of $2.5 million (14 cents per diluted share) related to the write-down of excess and obsolete inventory.


Infonet Services Corp.
The El Segundo-based managed data services provider reported a third-quarter loss of $19 million (4 cents per diluted share), versus a loss of $20.5 million (4 cents) for the like period a year earlier. Revenue rose 3 percent to $156.1 million.


Capstone Turbine Corp.
The Chatsworth-based microturbine technology developer reported a third-quarter loss of $9.8 million (12 cents per diluted share), compared with a loss of $11.6 million (14 cents) for the like period a year earlier. Revenue rose to $4.7 million from $3.3 million in the year-ago period.

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