El Torito Restaurants Inc. reported net income of $4 million for the quarter ended June 30, an 18% increase from profits of $3.4 million a year earlier. The Irvine-based Mexican restaurant chain, a majority-owned subsidiary of W.R. Grace & Co., had sales of $84.8 million for the second quarter of 1985, up 31% from sales of $64.6 million during the same period a year earlier.
Net income for the six months totaled $6.2 million, a 26% increase from $4.9 million in the period a year ago. Revenues for the first half of 1985 were $150.3 million, a gain of 22% from sales of $123.1 million during the same period in 1984.
Ropak Corp. Records 159% Boost in Revenue
Ropak Corp., a Fullerton maker of plastic containers, Thursday posted a fourfold increase in second quarter net income and a 159% boost in revenues.
Net income rose to $521,091 in the quarter ended June 30, compared with net income of $125,820 in the same period a year ago. Revenues increased to $9.6 million from $3.7 million in the year-ago quarter.
Six-month net income rose 130% to $751,162 compared with the $325,252 reported for the first six months of 1984. Revenues in the first half increased to $15.5 million from $7 million in the first half of 1984.
Results for the second quarter and first half included revenues from the Capilano group of companies acquired last February by Ropak for $5.7 million in cash. The companies acquired were two of Ropak's main competitors.
Ropak Chairman William Roper said that revenues of Ropak's historical operations were up 28% in the first half of 1985, reflecting continuing gains in market share. He attributed the company's strong earnings performance to better plant utilization. Ropak has five plants in the U.S. and Canada.
Lincoln S&L Records Ninefold Earnings Jump
Irvine-based Lincoln Savings & Loan Assn. reported a record second quarter net earnings of $24.1 million, a ninefold jump from the $2.6 million the thrift reported for the same three-month period ended June 30, 1984.
Earnings for the first six months of 1985 also increasing nearly eightfold to $32 million from $4.1 million for the same period the year before.
Robin S. Symes, the S&L's executive vice president, said Lincoln's strong showing is the result of a wide variety of profitable investments. Symes said Lincoln Savings' net worth has increased to $104.8 million.
Lincoln Savings reported assets of approximately $2.5 billion at the end of June, compared with $1.5 billion for June 30, 1984.
Lincoln, established in Los Angeles in 1925, was acquired last year by Phoenix-based American Continental Corp. and its headquarters were moved to Irvine.
The S&L has 25 branches throughout Southern California and, as of the end of last month, held $2.1 billion in deposits, up from $940 million the same period a year before.
Eldorado Bancorp Reports 15% Drop in Quarterly Net
Eldorado Bancorp, the Tustin-based holding company for Eldorado Bank, reported net income of $312,000 for the three months ended June 30, 1985, a 15%drop from the $368,000 net income the company reported for the same period a year earlier.
For the six months ended June 30, net income was $619,000, a 6% increase from the $582,000 Eldorado Bancorp reported for the first half of 1984.