– Diodes Inc.
, a Westlake Village-based semiconductor manufacturer, reported net income of $7.2 million (46 cents per diluted share) for the first quarter ended March 31, compared with $4.9 million (32 cents) for the like period a year earlier. Revenue rose to $48.6 million from $41.4 million in the year-ago period.
The company anticipates that that its second-quarter revenue and gross margins will be comparable to that of the first quarter.
– K Swiss Inc.
, a Westlake Village-based footwear company, reported net income of $25.9 million (72 cents per diluted share) for the first quarter ended March 31, compared with $21.8 million (57 cents) for the like period a year earlier. Revenue rose to $153.1 million from $152 million in the year-ago period.
The company expects revenues for the second quarter to be in the range of $112 to $117 million and earnings per diluted share to be between 31 cents and 36 cents. For the full year, K Swiss anticipates revenues to be approximately $500 to $515 million and earnings per diluted share of $1.80 to $1.90.
– IRIS International Inc.
, a Chatsworth-based urinalysis tests and medical devices producer, reported net income of $1.3 million (7 cents per diluted share) for the first quarter ended March 31, compared with $529,000 (4 cents) for the like period a year earlier. Revenue rose to $14 million from $9.4 million in the year-ago period.
For the full year, the company expects earnings per share in the range of 30 cents to 35 cents and revenue growth of at least 35 percent over that of 2004, up from previous guidance of 25 percent.
– Stamps.com Inc.
, an Internet-based postage company in L.A., reported net income of $1.6 million (7 cents per diluted share) for the first quarter ended March 31, compared with a loss of $4.5 million (20 cents) for the like period a year earlier. Revenue rose to $11.8 million from $7.6 million in the year-ago period.
For the second quarter, the company anticipates revenue of approximately $13 million and net income of around 6 cents per fully diluted share. For 2005, Stamps.com forecasts revenue of $56 million, an increase from previous guidance of $48.5 million, and net income of 31 cents per fully diluted share, an increase from previous guidance of 26 cents.
– Fremont General Corp.
, a Santa Monica-based financial services holding company, reported net income of $90.1 million ($1.22 per diluted share) for the first quarter ended March 31, compared with $82.7 million ($1.12) for the like period a year earlier.
Total assets rose to $11 billion from $10.1 billion in the comparable year-ago period. Fremont General Corp. recorded a provision for loan losses of $1 million in the first quarter of 2005, compared with $16.4 million in the year-ago period.
– Center Financial Corp.
, an L.A.-based financial holding company of Center Bank, reported net income of $5.7 million (34 cents per diluted share) for the first quarter ended March 31, compared with $3.3 million (20 cents) for the like period a year earlier.
Total assets rose to $1.4 billion from $1.1 billion in the comparable year-ago period. Center Financial Corp. recorded a provision for loan losses of $650,000 in the first quarter of 2005, compared with $850,000 in the year-ago period.
– Guitar Center Inc.
, a Westlake Village-based musical instrument retailer, reported net income of $15.9 million (56 cents per diluted share) for the first quarter ended March 31, compared with $11.8 million (44 cents) for the like period a year earlier. Revenue rose to $396.4 million from $349.7 million in the year-ago period.
& #8226; California Pizza Kitchen Inc.
, an L.A.-based casual dining restaurant chain, reported net income of $4.3 million (22 cents per diluted share) for the first quarter ended April 3, compared with $4.2 million (22 cents) for the like period a year earlier. Revenue rose to $110.3 million from $98.6 million in the year-ago period.
For the second quarter, the company expects to add three new restaurants. This activity, together with anticipated comparable-store sales growth of 5 percent to 6 percent, is expected to result in earnings per fully diluted share in the range of 26 cents to 28 cents. For the full year, the company increased its earnings guidance to $1.15 a share from $1.13.
& #8226; International Rectifier Corp.
, an El Segundo-based power semiconductor maker, reported net income of $35.7 million (48 cents per diluted share) for the first quarter ended March 31, compared with $26.7 million (39 cents) for the like period a year earlier. Revenue rose to $281.9 million from $275.4 million in the year-ago period.
International Rectifier said first-quarter results include the effect of the conversion of the company’s outstanding convertible subordinated notes into about 7.4 million shares of common stock, which reduced diluted earnings by 4 cents a share. Adjusted net income without the effect was reported as $43.2 million (56 cents per diluted share), compared with $29.8 million (43 cents) for the like period a year earlier.
For the second quarter, the company expects revenues to remain at first-quarter levels, plus or minus 4 percent.
& #8226; Youbet.com Inc.
, a Woodland Hills-based online horse race wagering company, reported net income of $1 million (3 cents per diluted share) for the first quarter ended March 31, compared with $15,111 (breakeven on a per-share basis) for the like period a year earlier. Revenue rose to $18.5 million from $14.8 million in the year-ago period.
For the full year, the company anticipates earnings per share from continuing operations alone of 18 cents, the current analyst consensus estimate for net income.
& #8226; Tetra Tech Inc.
, a Pasadena-based consulting and engineering company, reported a net loss of $123.8 million ($2.19 per diluted share) for the second quarter ended April 3, compared with income of $13 million (23 cents) for the like period a year earlier. Revenue fell to $292.8 million from $331.4 million in the year-ago period.
Second-quarter results included a $105.6 million impairment charge. During the second quarter, Tetra Tech recorded losses of $37.6 million relating to its move to exit the wireless communications business.
The company expects diluted earnings per share for the third quarter to be in the range of 12 cents to 14 cents and revenue, net of subcontractor costs, of approximately $235 million to $245 million. For the year, Tetra Tech expects diluted loss per share to range from y $1.73 to $1.77 and revenue, net of subcontractor costs, to range from $925 million to $945 million.
& #8226; Molina Healthcare Inc.
, a Long Beach-based managed-care organization, reported net income of $14.8 million (53 cents per diluted share) for the first quarter ended March 31, compared with $11.1 million (43 cents) for the like period a year earlier. Revenue rose to $394 million from $220 million in the year-ago period.
For the full year, the company expects earnings per diluted share in the range of $2.40 to $2.45.
