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California and the West | EARNINGS ROUNDUP

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April 28, 2006

* Guitar Center Inc., a Westlake Village-based retailer of guitars and other musical instruments, said first-quarter profit declined 1% on costs related to stock options and the departure of its finance chief. Profit slipped to $15.7 million, or 55 cents a share, from $15.9 million, or 56 cents, a year earlier. Revenue grew 19% to $470.7 million.

* Telecommunications services company Covad Communications Group Inc. said it cut its first-quarter loss nearly in half to $9.3 million, or 3 cents a share, from $17.9 million, or 7 cents, a year earlier. Revenue at the San Jose company grew to $117.8 million from $113.7 million.

* Irvine home builder Standard Pacific Corp. reported a 15% jump in first-quarter profit as margins grew, but it said new-home orders -- a measure of future revenue growth -- fell 8%. Net income was $94.7 million, or $1.38 a share, compared with the year-ago quarter's $82.1 million, or $1.18. Sales rose 5% to $879 million.

* Computer disk-drive maker Western Digital Corp. posted a 45% profit gain for its fiscal third quarter as sales increased to makers of notebook computers and consumer electronics. Net income rose to $102.9 million, or 45 cents a share, from $70.8 million, or 32 cents, a year earlier, the Lake Forest-based company said. Sales jumped 23% to $1.23 billion.

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