Earnings Roundup

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– Smart & Final Inc.

reported third-quarter net income of $823,000 (3 cents per share) for the 16 weeks ended Oct. 9, compared with $11.7 million (36 cents) for the like period a year earlier. Revenue for the City of Commerce-based warehouse stores operator rose 5.2 percent to $634.4 million.


Excluding a $19 million charge related to a class action litigation matter, the company reported third-quarter income from continuing operations of $12.3 million (38 cents per share). Including the effect of the charge, Smart & Final reported third-quarter income from continuing operations of $951,000 (3 cents).


The company said its third-quarter comparable store sales increased by 3.3 percent over the year-prior period.



– Magnetek Inc.

reported a first-quarter net loss of $1.1 million (4 cents per share) for the 12-week period ended Oct. 2, compared with income of $540,000 (2 cents) for the like period a year earlier. Revenue for the L.A.-based digital power-electronic products supplier fell 14.6 percent to $56.5 million.


The company expects fourth-quarter earnings of 39 cents to 41 cents per share. Full-year earnings were raised to $1.77 to $1.79 per share, up from previous guidance of $1.67 to $1.71 per share.



– Health Net Inc.

reported third-quarter net income of $78.2 million (67 cents per share), compared with $71.9 million (64 cents) for the like period a year earlier. Revenue rose 4.2 percent to $3.1 billion.


The company expects fourth-quarter earnings of between 60 cents and 65 cents per share, and full-year earnings of $1.93 to $1.98 per share. For 2006, Health Net anticipates earnings of at least $2.90.



– Maguire Properties Inc.

reported a third-quarter net loss of $11.4 million (37 cents per share), compared with income of $8.5 million (9 cents) for the like period a year earlier. Revenue for the L.A.-based real estate investment trust rose 53.1 percent to $128.8 million.


Funds from operations totaled $24.1 million (55 cents per share), compared with $21.7 million (51 cents) for the like period a year earlier.



– ValueClick Inc.

reported third-quarter net income of $11 million (13 cents per share), compared with $7.6 million (9 cents) for the like period a year earlier. Revenue for the Westlake Village-based online advertising services provider rose 87 percent to $81.4 million.


The company expects fourth-quarter earnings of about 12 cents per share on revenue of between $112 million and $117 million. Full-year earnings are expected to be 43 cents to 45 cents per share, up from previous guidance of 41 cents to 43 cents per share. Full-year revenue is anticipated to be between $299 million and $304 million, up from an earlier forecast of $291 million to $301 million. For 2006, ValueClick expects earnings of 53 cents to 59 cents per share on revenue of $480 million to $500 million.



– CB Richard Ellis Group Inc.

reported third-quarter net income of $56.9 million (74 cents per share) compared with $11.9 million (16 cents) for the like period a year earlier. Revenue for the Los Angeles-based real estate service company rose 29.4 percent to $744.2 million.


The increased revenue reflects improved performance across all business lines and geographic locations, the company said in a statement. CBRE also raised its fiscal 2005 guidance due to continued strong investment sales and leasing activity worldwide. The company now expects annual earnings per share to range between $2.70 to $2.75, excluding one-time charges. It also expects the strong performance to carry forward into fiscal 2006, when it’s forecasting revenue growth of 7 percent to 9 percent.

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