FRIDAY
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Reinhold Industries Inc.
reported first-quarter net income of $1.2 million (37 cents per share) compared with $1.7 million (52 cents) a year ago. Revenues for the Santa Fe-based manufacturer of advanced custom composite components and sheet molding compounds rose 35 percent to $9.7 million. Sales in the seating products business unit increased by 147 percent to $1.9 million due to a surge in aircraft seating demand from our largest customer and production quantity sales to a new customer.
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Magnetek Inc.
reported a third-quarter net loss of $4.4 million (-15 cents per share) compared with $1.9 million loss (-7 cents) a year ago. Revenues for the Chatsworth-based manufacturer of digital power control products rose 0.4 percent to $57.2 million.
THURSDAY
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Guess? Inc.
reported first-quarter net income of $15.4 million (34 cents per share) compared with $8.2 million (18 cents) a year ago. Net revenues the Los Angeles-based apparel maker rose 20 percent to $259 million. results were lifted by a retail same-store sales increase of 22.6 percent in April, along with European and licensing businesses’ profit growth of more than 30 percent each. Analysts polled by Thomson Financial on average forecast earnings of 32 cents per share on sales of $253.8 million.
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Trio-Tech International
reported third-quarter net income of $174,000 (5 cents per share) compared with $22,000 (1 cent) a year ago. Revenues for the Van Nuys-based provider of third-party semiconductor testing and burn-in services rose 10 percent to $6.47 million.
WEDNESDAY
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Electronic Clearing House Inc.
reported second-quarter net income of $424,000 (6 cents per share) compared with $144,000 (2 cents) a year ago. Revenues for the Camarillo-based for provider of merchant transaction processing services rose 44 percent to $19.2 million. The company anticipates exceeding its prior revenue guidance of 17 to 24 percent growth in fiscal 2006, with net income remaining in the range of $1.5 million to $2.5 million.
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Reading International Inc.
reported first-quarter net loss of
$3.2 million (-14 cents per share) compared with a $2.4 million loss (-11 cents) a year ago. Revenues for the Los Angeles-based owner of cinemas and entertainment-themed retail centers rose 1.6 percent to $25.5 million. The cinema revenue increase of $0.6 million was predominantly due to Australia. offset by lower revenues in the U.S. and a flat New Zealand. The top 3 grossing films in its circuit worldwide were “The Chronicles of Narnia: The Lion, The Witch and The Wardrobe,” “Walk the Line” and “King Kong” which between them accounted for approximately 25 percent of its cinema box office revenue.
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Southwest Water Co.
reported first-quarter net income of $0.8 million (3 cents per share) compared with a net loss of $0.2 million (1 cents) a year ago. Revenues for the Los Angeles-based water utility owner and operator increased 12.3 percent to $50.8 million.
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Unico American Corp.
reported first-quarter net income of $1.9 million (34 cents per share) compared with $1.5 million (27 cents) a year ago. Revenues for the Woodland Hills-based insurance company fell 9 percent to $14 million.
TUESDAY
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The Walt Disney Co.
reported first-quarter net income of $733 million (37 cents per share) compared with $657 million (31 cents) a year ago. Sales for the nation’s second largest media company rose 2.5 percent to $8.03 billion. The Burbank-based company is benefiting from increased attendance at the parks and resorts unit, which includes Walt Disney World in Florida. Hit shows such as “Desperate Housewives” and “Grey’s Anatomy” boosted ad sales at ABC. The company last week completed the $8.06 billion purchase of Pixar, a move seen as reviving Disney’s flagging animation studio.
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California Pizza Kitchen Inc.
reported first-quarter net income of $4.6 million (23 cents per share) compared with $4.3 million (22 cents) a year ago. Net income would have been $5.6 million (27 cents) excluding the effects of stock-based compensation expense. Revenues for the Los Angeles-based restaurant chain rose 17.6 percent to $129.7 million. During the quarter, the company opened two new full service restaurants in Northridge and an Norfolk, VA
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IRIS International Inc.
reported first-quarter net income of $1.7 million (9 cents per share) compared with $1.3 million (7 cents) a year ago. Revenues for the Chatsworth-based maker of automated urinalysis systems rose 15 percent to $16.1 million. The company said the quarter is traditionally the its slowest period due to seasonality in instrument sales. The improved performance over the prior year period was attributed to record revenues for the company’s higher margin iQ200 Automated Urinalysis recurring consumables, and service and samples processing products.
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Fremont General Corp.
reported first-quarter net income of $31.7 million (42 cents per share) compared with $90.1 million ($1.22) a year ago. Residential real estate loan originations for the Santa Monica-based parent of Fremont Investment & Loan rose 10 percent to $8.54 billion. The loss on the sale of residential real estate loans during the first quarter of 2006 totaled $15.2 million on whole loan sales of $7.26 billion. This is compared to a gain of $108.4 million on whole loan sales and securitizations of $7.06 billion during the first quarter of 2005. Gross premiums realized on whole loan sales during the first quarter were lower than in previous periods.
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NetSol Technologies Inc.
reported first-quarter net income of $208,946 (1 cent per share) compared with $156,852 (1 cent) a year ago. Net revenues for the Calabasas-based developer of proprietary software applications and provider of information technology services rose 58 percent to $5.05 million. The company has seen new orders of its LeaseSoft licenses, an increase in its services business, ongoing maintenance fees, and the integration of revenues contributed by U.K. subsidiary, NetSolCQ.
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Enova Systems Inc.
reported first-quarter net income of $145,000 (1 cent per share) compared with loss of $812,000 (-9 cents) a year ago. Net revenues for the Torrance-based maker of commercial digital power management systems for transportation vehicles and stationary power generation systems rose 55 percent to $309,000. The company’s revenues derived mostly from production type contracts with Hyundai Motor Corporation and the State of Hawaii.
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First Consulting Group Inc.
reported first-quarter net income of $4.5 million (18 cents per share) compared with a loss of $0.8 million (-3 cents) a year ago. Revenues for the Long Beach-based provider of outsourcing, consulting, systems implementation and integration for healthcare companies fell 2 percent to $66.7 million. The Company expects revenue for the second quarter of 2006 to be in the range of $63 million to $66 million with continued operating
profitability.
MONDAY
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ValueClick Inc.
reported first-quarter net income of $9.8 million (9 cents per share) compared with $8.7 million (10 cents) a year ago. Revenues for the Westlake Village-based integrated online marketing company rose 128 percent to 117.3 million. Results include a full quarter of operations from: E-Babylon and Webclients, both acquired in June 2005; and Fastclick, acquired in September 2005.
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Health Net Inc.
reported first-quarter net income of $76.6 million (65 cents per share) compared with $21.3 million (19 cents) a year ago, which had included a $67 million in one-time charges for legal and severance costs. Revenues for the Woodland Hills-based managed care provider increased 9.4 percent to $3.2 billion. Health plan premiums increased 6.2 percent to $2.5 billion and government contracts revenue rose 24 percent to $615 million. Enrollment in Medicare’s Part D prescription drug benefits program rose by 255,000. The company reaffirmed guidance for 2006 earnings per share of between $2.90 and $3.10.
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Salem Communications Corp.
reported first-quarter net income of $2.7 million (11 cents per share) compared with $2.4 million (9 cents) a year ago. Included in the results are a 9 cent-per-share gain from disposal of assets, a penny gain from discontinued operations, and a 3 cent-per-share stock-option expense. Revenues for the Camarillo-based Christian- and family-radio broadcaster rose 5 percent to $52.6 million. News Talk stations same-station revenue grew 7 percent, local and national block programming revenue grew 7 percent, and the company’s Internet business had a 30 percent revenue jump from last year.
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Mercury General Corp.
reported first-quarter net income of $58.6 million ($1.07 per share) compared with $60.4 million ($1.10) a year ago. Net premiums written to the Los Angeles-based property-casualty insurance company rose 6 percent to $774 million, with California net premiums up 7.6 percent to $566 million. Included in net income is an income tax charge of approximately $15 million for tax years 1993 through 1996 after the Franchise Tax Board disallowed a portion of the company’s expenses related to management services provided to its subsidiaries.
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DTS Inc.
reported first-quarter net income of $7 million (38 cents per share) compared with $3.6 million (19 cents) a year ago. Excluding stock-based compensation expenses, net income would have been $7.4 million (40 cents). Revenues for the Agoura Hills-based digital technology company rose 30 percent to $28.7 million. The company said that its consumer division benefited from strong royalty recovery activity, as well as growth in the PC and automotive markets, offset slowing in the traditional DVD markets.
