reported fourth-quarter net income of $95.4 million ($1.24 per share), compared with $66.4 million (88 cents) for the same period a year earlier. Revenue for the El Segundo-based commercial real estate company rose 19.8 percent to $956 million from $798.2 million in the year-prior period
Excluding one-time items, the company reported adjusted net income of $99.9 million ($1.29 per share), compared with $68.4 million (90 cents) a year earlier.
For the full fiscal year, as compared to 2005, CB Richard Ellis expects earnings growth in the range of 15 percent to 20 percent, excluding one-time acquisition-related and debt buyback charges.
- Health Net Inc. reported fourth-quarter net income of $76.7 million (65 cents per share), compared with a loss of $85.6 million (77 cents) for the same period a year earlier. Revenue for the Woodland Hills-based managed health care company rose 2.9 percent to $2.95 billion from $2.87 billion in the year-prior period.
The company's debt-to-total capital ratio was 19.6 percent, compared to 23.8 percent in the fourth quarter of 2004.
Health Net expects full-year earnings of between $2.90 and $3.10 per share. The guidance reflects anticipated costs of between 10 cents and 12 cents per share for expensing stock options.
- Nara Bancorp Inc. reported fourth-quarter net income of $7.9 million (30 cents per share), compared with $6.7 million (27 cents) for the same period a year earlier.
The L.A.-based holding company of Nara Bank had a provision for loan losses of $857,000 versus a provision of $200,000 in the prior year. Total assets rose to $1.78 billion at Dec. 31 from $1.51 billion in the year-prior period. Net interest income, after provision for loan losses, rose to $20.9 million from $15.9 million a year earlier.
The company expects full-year earnings to range between $1.20 and $1.25 per share.
- Zenith National Insurance Corp. reported fourth-quarter net income of $49 million ($1.32 per share), compared with a loss of $43.7 million ($1.22) for the same period a year earlier. Revenue for the Woodland Hills-based carrier of workers' compensation insurance rose to $318.3 million from $292.3 million in the year-prior period.
Net premiums earned rose to $294.9 million from $248.1 million a year ago. Fourth-quarter earnings included an after-tax catastrophe loss of 24 cents per share and an after-tax gain on investments of 2 cents per share.
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