Advertisement
YOU ARE HERE: LAT HomeCollections

California and the West | EARNINGS ROUNDUP

Also

October 21, 2005|From Reuters

* Golden West Financial Corp. said third-quarter profit rose a better-than-expected 18%, helped by near-record originations in adjustable-rate mortgage lending, its main specialty. The Oakland-based parent of World Savings Bank said profit rose to $382.2 million, or $1.22 a share, from $324.8 million, or $1.05, a year earlier.

* UnionBanCal Corp., parent of Union Bank of California, said third-quarter profit rose 13%, boosted by loan and deposit growth. The San Francisco-based holding company reported net income of $185.3 million, or $1.26 a share, compared with $163.4 million, or $1.09, a year earlier.

* Cathay General Bancorp, parent of Cathay Bank in Los Angeles, reported net income of $26.7 million, or 53 cents a share, for the third quarter, compared with $23.2 million, or 47 cents, a year earlier. Cathay Bank, with 29 California branches serving a core clientele of Chinese Americans, cited continuing loan growth.

* Reliance Steel & Aluminum Co. said third-quarter net income rose to $49.4 million, up 12% from a year earlier, as sales rose 11% to $870.1 million. The Los Angeles company credited the effects of its acquisition of Chapel Steel Corp. in July and improvement in volume and pricing for carbon steel products.

* Temporary-staffing company Robert Half International Inc. posted a higher quarterly profit on strong demand in its finance and accounting staffing unit. The Menlo Park, Calif., company said third-quarter net income rose 49% to $64.4 million as sales rose 22% to $867 million.

Advertisement
Los Angeles Times Articles
|
|
|