WPT Enterprises Inc. reported second quarter net income of $2.6 million (12 cents per share) compared to a net loss of $400,000 (-2 cents) for the same period last year. Revenues for the Los Angeles-based gaming company rose 67 percent to $11 million. The company said it improved financial performance was driven by additional cablecasts of its poker show on the Travel Channel as well as its expansion into new markets.
Sport Chalet Has Soft First quarter
Sport Chalet reported first-quarter net income of $530,000 (4 cents per share), up 36 from $389,000 (3 cents) from the same period a year earlier. Revenue for the Los Angeles-based sporting goods retailer increased 17 percent to $84.4 million. The company pointed four new store openings in 2006 along with two added sales days, contributing an additional $2.6 million, as a result of the company's calendar change beginning this period so each quarter ends on a Sunday, for the increase.
Cogent Has Tough Second Quarter
Cognet Inc. reported second quarter net income of $3.6 million (4 cents per share), down 75 percent from $14.4 million, (16 cents) for the same period a year earlier. Revenue for the Pasadena-based technology company plunged 66 percent to $13.2 million. The quarter also included $1.2 million of stock-based compensation charges.
DaVita Beat Expectations
DaVita Inc. beat Wall Street expectations by reporting second-quarter net income of $63.2 million (60 cents per share), up 19 percent from the same period a year ago (51 cents). Revenue for the El Segundo-based operator of kidney dialysis centers rose 98 percent to $1.21 billion, with last October's acquisition of the dialysis unit of Sweden's Gambro AG a factor. Analysts polled by Thomson Financial had been anticipating earnings of 55 cents per share on sales of $1.18 billion. The company reported after-tax stock-based compensation expenses of $2.8 million (2 cents). The company raised its 2006 operating income forecast to a range of $670 million to $700 million, from an earlier estimate of $600 million to $680 million.
Iris Posts Loss
Iris International Inc. said stock compensation expenses contributed to a second-quarter net loss of $4.5 million (-25 cents per share), compared to net income of $1.6 million (9 cents) in the same period a year ago. Revenue for the Chatsworth-based maker of urinalysis and body fluids testing systems rose 7 percent to $16.6 million. The company recorded after-tax stock-based compensation expenses of $5.9 million (33 cents). Iris also experienced longer-than-expected domestic sales cycles for its in vitro diagnostics instruments, primarily related to capital constraints at its customers, but said it now has a number of orders in its pipeline.
Herbalife Looking Healthy
Herbalife Ltd. reported net income of $36.3 million (49 cents per share) up 59 percent from the same period a year ago (32 cents). The Los Angeles-based nutritional supplement company said net sales rose 21 percent to $466 million. The growth was attributed to increases in the company's three largest regions, the Americas, Asia Pacific, and Europe, which achieved net sales growth of 39.2 percent, 24.7 percent, and 2.4 percent, respectively. Partially offsetting the growth was a 6.3 percent decline in Japan.
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