June 21, 1989 |
Care Enterprises, a Tustin-based nursing home operator that filed for bankruptcy last year, reported Tuesday that it earned $273,000 in the first quarter. The profit contrasts with a $4.1-million loss in the same quarter a year ago. Care said revenue in the quarter increased 4% to $66.4 million, compared to $63.8 million in the year-earlier period. The company, which lost $29 million in 1988 and has lost more than $100 million over the last three years, said its first-quarter performance benefited from cost cuts and from new Medicare provisions for bigger reimbursements and coverage for more patients.
May 2, 1989
Tekelec, a Calabasas maker of equipment that tests telecommunications products, said its first-quarter profit rose 13% from a year earlier on a 36% jump in revenue. In the quarter that ended March 31, Tekelec's net income climbed to $1.24 million from $1.1 million, and its revenue rose to $9.12 million from $6.73 million. Tekelec said that U.S. orders for its equipment were lower than expected in the first quarter, but that international demand remained strong. Tekelec said its profit gain was limited because of new-product costs and higher engineering, marketing and customer-service spending needed to support its increased client base.
April 26, 1989 |
Times Mirror Co. said Tuesday that its first-quarter profit declined 8% to $68.8 million but noted that the year-ago profit included a gain from the sale of assets. Excluding that one-time gain and interest expenses, the company said its pretax operating profit rose 9%. Times Mirror, which publishes the Los Angeles Times, Newsday, the Baltimore Sun and other newspapers, said operating profit rose to $129.6 million in part because of substantially increased earnings from its newspaper publishing and cable television operations.
June 23, 1989 |
The economy was slightly stronger than previously estimated in the first three months of the year, expanding at an inflation-adjusted 4.4% annual rate, the Commerce Department reported Thursday. The department previously estimated that the gross national product grew at a 4.3% annual pace in the first quarter. It said trade gains accounted for the modest revision in its third and final estimate of the quarter's gross national product. The report provides further evidence that the economy is being driven by a welcome mix of export growth and business investment, said Tony Villamil, the department's chief economist.
April 25, 1989
Strategic Mortgage Investments, a real estate investment trust that buys home mortgage loans, said its earnings dropped 39% to $1.8 million in the first quarter that ended March 31 from the year-earlier period. The Glendale company said results were affected by rising interest rates. Strategic Mortgage said the rates at which it borrows increased 2% in the quarter to 9.8%.
May 23, 1989
Alpharel said it narrowed its loss to $2.2 million in the first quarter that ended March 31 from $3.7 million a year earlier. The Camarillo company, which makes computer data storage devices, said its sales rose to $1.2 million from $628,000 a year earlier. Alpharel added that its operating expenses fell $1.5 million in the quarter from a year earlier.