A number of Valley area companies reported earnings Thursday. While several were disappointing, American Homes 4 Rent posted the best results in its three years as a public company and Salem beat earnings expectations.

American Homes (AMH) of Agoura Hills, which fixes homes and rents them out, said its second quarter net loss was $10.4 million (-4 cents a share), much narrower than the $17.7 million loss (-8 cents) in the same quarter last year.

Its revenue increased 44 percent to $221 million. That’s $1.68 million higher than analysts expected.

The company’s core funds from operations, a key metric, equaled 25 cents a share, much higher than the 17 cents recorded in the comparable quarter last year and 2 cents more than expected by analysts.

“Without a doubt, the second quarter of 2016 was our strongest quarter yet,” said David Singelyn, American Homes chief executive.

American Homes’ stock went up 8 cents to $21.58 a share on Thursday; the company reported earnings after the market closed.


Salem Media Group Inc. (SALM), known for its radio programming, announced second-quarter revenue that fell short of analysts’ expectations but earnings that exceeded them.

Net income fell 5 percent to $3.4 million, down from $3.5 million in the second quarter of last year. Per-share earnings fell to 13 cents, down from 14 cents last year but 3 cents more than projected by analysts.

The Camarillo company reported $67.8 million in total revenue for the quarter, a 1 percent increase but short of analysts’ predictions of $69.4 million.

The company’s stock was down 7 cents to $7.13, but the earnings were reported after the market closed.


Wesco Aircraft Holdings Inc. (WAIR) beat Wall Street estimates on earnings but fell short on revenue in its fiscal third quarter.

The Valencia aerospace parts supplier reported adjusted net income of $28.5 million. That equaled 29 cents a share; analysts were expecting 28 cents. Revenue increased 2 percent to $375 million; analysts were looking for $381 million, according to Thomson Financial Network.

Shares closed down 5 cents, or a fraction of a percent, to $12.92 on the New York Stock Exchange.


Capstone Turbine Corp. (CPST) posted a net loss for the fiscal first quarter and fell short of Wall Street projections for revenue.

The Chatsworth manufacturer of natural gas-powered microturbines reported a net loss of $4.5 million or -17 cents a share; analysts were expecting -19 cents. Revenue dropped by 29 percent to $19.1 million; that figure is $200,000 short of predictions.

Shares closed down 5 cents, or more than 3 percent, to $1.47 on the Nasdaq.


MRV Communications Inc. (MRVC) widened its net loss in the second quarter as revenue fell, the company announced.

The Chatsworth company, which makes computer network equipment, reported a net loss of $2 million (-29 cents a share) in the quarter ending June 30, compared with a net loss of $281,000 (- 4 cents) in the same period a year earlier. Revenue fell by 12 percent to $21.6 million.

Shares closed down 2 cents, or less than 1 percent, to $11.48 on the Nasdaq.