& #8226; Keystone Automotive Industries Inc. reported a fourth-quarter net income of $7.6 million (46 cents per share) compared with $4.3 million (27 cents) a year ago. Revenues for the Pomona-based distributor of aftermarket collision repair parts grew 18 percent to $179.9 million, as the cost of sales only rose 14 percent to $98 million, compared to $14.3 million (90 cents) last year. For the full year, the company posted net income of $22.3 million ($1.38) Revenue increased 13 percent to $628.3 million as same-store sales rose 11.3 percent. The company said its acquisition in October 2005 of Veng USA, a provider of generic collision parts in New England, contributed to the solid performance.
reported first-quarter net income of $5.9 million (67 cents per share) compared with $6.1 million (69 cents) a year ago. Net revenues for the Van Nuys apparel company rose 0.1 percent to $13.228 million. The company said total revenues were flat principally due to what it characterized as an unauthorized deduction by Mossimo Inc. of $900,000 of royalties due to Cherokee. The company expects to receive royalty revenues due from Mossimo during its second quarter, concurrent with the closing of Iconix Brand Group's acquisition of Mossimo.
- North American Scientific Inc. reported second-quarter net loss of $3.6 million (21 cents per share) compared with a loss of $3.9 million (24 cents) a year ago. Net revenues for the Chatsworth-based provider of radiation therapy products and services fell 12 percent to $8.1 million. The company on Tuesday announced that it has entered into a binding agreement to raise $24 million in a private placement of common stock and the concurrent issuance of warrants for the purchase of common stock.
- Calavo Growers Inc. reported first-quarter net income of $2.2 million (15 cents per share) compared with $1.5 million (10 cents) a year ago, excluding the gain from selling its former Santa Ana headquarters after relocating to Santa Paula. Including the gain, earnings were 18 cents. A big harvest helped boost fiscal second-quarter revenue for the nation's largest avocado marketer, with sales up 12 percent to $67.4 million. Results also benefited from a new processing plant in Mexico, the company said.
- Korn/Ferry International reported fourth-quarter net income rose to $20.3 million (45 cents per share) compared with $11.7 million (27 cents) a year ago. Excluding a one-time tax benefit, the company posted a profit of 31 cents, beating Wall Street estimates. Sales at the Los Angeles-based executive search firm rose 17 percent from last year to $145.3 million, compared with Wall Street forecasts for $140 million in revenue. The company said its fourth-quarter profit was boosted by a one-time tax benefit and strong revenue growth. Analysts surveyed by Thomson Financial expected more modest earnings of 29 cents per share on lower revenue of $141.3 million. Korn/Ferry forecast a first-quarter profit before one-time items in the range of 28 to 33 cents a share, with first-quarter revenue in the range of $138 million to $145 million.
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