Univision Communications Inc. reported second quarter net income of $107.4 million (32 cents per share) up 196 percent from $36.1 million (10 cents) for the same period a year earlier. Revenue for the Los Angeles-based Spanish-language broadcaster was up 25 percent to $634 million. The company, which last month agreed to be acquired for $12.3 billion by a private investor group, attributed strong ad revenue on top of increasing viewer ship for the leap in profits.
Activision Posts Loss, Beat Expectations
Activision Inc. reported a second quarter net loss of $17.8 million (6 cents per share) down from a net loss of $3.6 million, (1 cent) for the same period a year earlier. Revenue for the Santa Monica video game publisher fell 22 percent to $188.1 million. The company said a bright spot was game sales related to "Over the Hedge" and "X-Men" on various game consoles and said it hope the shrink in losses could signal the end of the gaming industry's tailspin.
Saehan Post 2Q Earnings
Saehan Bancorp reported second quarter net income of $1.7 million (16 cents per share), flat from $1.7 million (17 cents) for the same period a year earlier. Total deposits for the Los Angeles-based bank were up 26.5 percent to $96.6 million.
Superior See Slip in Profits
Superior Industries International Inc. reported second quarter net income of $2.1 million (8 cents per share), down 50 percent from $4.3 million (16 cents) for the same period a year earlier. Revenue for the Van Nuys-based aluminum auto parts maker was up 1 percent to $220 million. The company said that its gross margin continues to be affected by low capacity in some of the company's plants, as well as by pre-production costs at its facility in Mexico. Accelerated depreciation also hit the bottom line due to downsizing at the company's manufacturing operation in Van Nuys, which was announced earlier this year.
Macerich Cashes In
Macerich Co. reported second quarter net income of $25.7 million (36 cents per share), up 283 percent from $6.7 million (11 cents) for the same period a year earlier. Revenue from the Santa Monica-based real estate firm revenue rose 11.4 percent to $207.8 million. The company attributed the increase to sales of assets totaling more than $220 million with a gain of $60 million on the sales. Renewal rent rate was almost 25 percent higher than the expiring rent rate. Though the company missed revenue projections, it raised its earnings per share guidance to between $1.73 and $1.83 per share for the year.
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