& #8226; 99 Cents Only Stores
reported third-quarter net income of $1 million (1 cent per share), compared with $5.5 million (8 cents) for the like period a year earlier. Revenue for the City of Industry-based retail store operator rose 3 percent to $246 million.
The company said its fourth-quarter same-store sales increased 2.5 percent from last year, largely due to growing average transactions. Total sales rose 4.9 percent to $278.8 million from the year-earlier period. Retail sales for the quarter ended Dec. 31were $269.3 million, up 5.6 percent from the year before.
& #8226; North American Scientific Inc.
reported a fourth-quarter net loss of $44.6 million ($2.65 per share), compared with a loss of $7.5 million (48 cents) for the like period a year earlier. Revenue for the Chatsworth-based radiation oncology products manufacturer fell 29.7 percent to $6.9 million.
The net loss in the fourth quarter included a $40.2 million impairment charge to write down goodwill and intangible assets acquired through an acquisition. It also included a gain of 2 cents per share from the now-discontinued Theseus operations, compared with a loss of 13 cents from the operations a year earlier.
– Superior Industries International Inc.
said it will hire a financial adviser to explore options for the sale of its suspension components business. The Van Nuys-based supplier of aluminum wheels to automakers said that as of Dec. 31, the book value of the assets of the components business was about $44 million. The company said it expects to record a charge in the fourth quarter of 2005 in connection with the disposal of the assets.
– Amgen Inc.
acquired exclusive worldwide rights to develop products and treatments for autoimmune diseases based on a gene discovered by Human Genome Sciences Inc. Financial details of the licensing agreement were not disclosed. Rockville, Md.-based Human Genome Sciences said it will receive an upfront payment, certain annual fees and milestone payments and royalties on annual net sales for therapeutic and diagnostic products successfully developed using the rights. Drugs developed based on the gene could be used for treating immune system diseases or cancer suppression.
– Hilton Hotels Corp.
proposed terms on $5.5 billion of bank loans to help fund the purchase of the lodging unit of Hilton Group Plc, Bloomberg News reported, citing a person involved in the transaction. Beverly Hills-based Hilton Hotels is seeking a $2.75 billion revolving credit and a $2 billion term loan, both with interest proposed at 1.5 percentage points above the London interbank offered rate and maturing in five years. Bank of America Corp. and UBS AG are arranging the financing. Hilton also wants a $750 million seven-year term loan, which will be sold to mutual funds and other institutional investors.
– CareMore Medical Enterprises
agreed to be acquired by JPMorgan Partners, a private equity affiliate of JPMorgan Chase & Co. Financial details were not supplied. JPMorgan Partners is undertaking the transaction with Crystal Cove Partners, who will join the management of the company after the transaction closes, which is expected in the first quarter of 2006. Downey-based CareMore is a managed healthcare provider serving approximately 20,000 Medicare beneficiaries in Los Angeles and Orange counties.
