Smart & Final reported fourth-quarter net income of $4.2 million (13 cents per diluted share), compared with $7.9 million (26 cents) for the like period a year earlier. Sales for the L.A.-based grocer rose 6 percent to $471.2 million.
Income from continuing operations was $4.6 million, including a $1.5 million charge for software, versus $9.2 million for the comparable quarter of 2003.
In the fourth quarter of 2004, the company recorded a loss of $400,000 related to discontinued operations, including the winding down of distribution operations in Northern California and Florida, and the divestiture of retail stores in Florida.
First Consulting Group Inc.
First Consulting Group reported fourth-quarter net income of $2.2 million (9 cents per diluted share), compared with a loss of $7 million (27 cents) for the like year-earlier period. Revenue for the Long Beach-based life sciences consulting firm rose to $76.5 million from $67.9 million in the comparable period of the prior year.
Fourth quarter results included a $800,000 writedown of a 2000 investment. For the first quarter of 2005, the company projects revenue and profit levels to be on par with the fourth quarter's results, adjusted for 13 weeks instead of 14 weeks that were in the fourth quarter. The company also said its goal is for quarterly revenues above $75 million and net income of 8 cents to 10 cents a share during the year.
Digital Insight Corp.
Digital Insight reported fourth-quarter net income of $3.9 million (11 cents per diluted share), compared with $35.5 million ($1.01) for the like period a year earlier. Revenue for the Calabasas-based online banking provider rose 16 percent to $48.9 million.
During the fourth quarter, Digital Insight repurchased 232,000 of its common shares at an average price of $16.39 under its $25 million stock repurchase program.
For the first quarter of 2005, the company expects revenue in the range of $50 million to $50.5 million and diluted earnings per share of 13 cents to 14 cents.
Stamps.com reported fourth-quarter net income of $1.5 million (6 cents per diluted share), compared with a loss of $2.7 million (12 cents) for the like period a year earlier. Revenues for the L.A.-based Internet postage company rose 83 percent to $11.7 million.
During the third quarter of 2004, Stamps.com received authorization from the U.S. Postal Service to test-market PhotoStamps, a product that allows customers to include photographs along with valid U.S. postage. PhotoStamps revenue from orders shipped during the fourth quarter was $900,000, and gross profit was approximately $300,000. The company is still waiting for the final word from USPS on whether to release the product.
For the first quarter of 2005, Stamps.com anticipates revenue will be approximately $11 million. Net income for the first quarter is expected to be around 5 cents per diluted share.
Entravision Communications Corp.
Entravision Communications reported fourth-quarter net income of $2.6 million (2 cents per diluted share), compared with a net loss of $1.3 million (5 cents) for the like period a year earlier. Revenues for the Santa Monica-based Spanish-language media company rose 11 percent to $68 million.
Due to the sale of Entravision's radio assets in Fresno and Chicago in the first half of 2004, the company presented its segment information on a pro forma basis by eliminating the broadcasting results from those markets. Pro forma revenue increased 13 percent to $68 million. Total pro forma operating expenses rose 5 percent to $41.6 million.
The company expects pro forma revenue for the first quarter of 2005 to be in the range of $55,700 to $56,300.
Reliance Steel And Aluminum Co.
Reliance Steel And Aluminum reported fourth-quarter net income of $43 million ($1.31 per diluted share), compared with $9.7 million (30 cents) for the like period a year earlier. Net sales for the L.A.-based metals distributor and processor rose 53 percent to $742.8 million.
For the first quarter of 2005, the company expects earnings of $1.05 to $1.15 per share.
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