reported fourth-quarter net income of $272 million (83 cents per share), compared with $379 million ($1.16) for the same period a year earlier. Revenue for the Rosemead-based parent of Southern California Edison Co. rose 28 percent to $2.98 billion from $2.33 billion in the year-prior period.
Fourth-quarter results were boosted by a gain on the sale of international assets, the resolution of some tax issues and a favorable Federal Energy Regulatory Commission decision. Excluding these items, the company reported "core" earnings of 71 cents per share, compared with 35 cents per share a year earlier.
- Korn/Ferry International reported third-quarter net income of $16.6 million (37 cents per share), compared with $9.8 million (23 cents) for the same period a year earlier. Revenue for the Los Angeles-based executive search firm rose 11 percent to $136.8 million from $123.6 million in the year-prior period.
The company expects fourth-quarter earnings of 27 cents to 31 cents per share on fee revenue of $131 million to $136 million. Including a benefit resulting from the conclusion of an income tax audit, fourth-quarter earnings are anticipated to be in the range of 37 cents to 45 cents per share.
- Blue Holdings Inc. reported fourth-quarter net income of $1.3 million (5 cents per share), compared with a loss of $220,673 (1 cent) for the same period a year earlier. Revenue for the Commerce-based maker of denim jeans rose to $11.8 million from no revenue in the year-prior period.
The company expects full-year 2006 revenue of $60 million to $70 million.
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