* One of the largest shareholders of Earl Scheib Inc. has raised his stake in the Beverly Hills-based auto painter to 7%. In an SEC filing, Andrew Shapiro, who heads Lawndale Capital Management, also was critical of the compensation package of Scheib Chairman Philip Colburn, and said he plans to withhold voting for Colburn's reelection to the board at the company's annual meeting Aug. 25. Scheib recently initiated new strategies to increase its profitability. Scheib officials were not immediately available for comment.
* El Segundo-based communications services provider Infonet Services Corp. reported fiscal first-quarter net income was $7.7 million, or 2 cents per share, contrasted with a net loss of $1.4 million a year ago. Revenue rose 80% to $154.2 million.