Westlake Village-based LTC Properties Inc. met analysts’ expectations on earnings and revenue for its second quarter. The real estate investment trust, which focuses on senior housing and health care properties, reported funds from operations of $29.2 million (77 cents a share), compared to $24 million (66 cents a share) for the year-ago quarter. That met analysts’ estimates of 77 cents. REITS report FFO to define cash flow from operations. LTC’s revenue of $40 million also was in line with what analysts expected. Shares closed at $52.87, down 37 cents, or less than a percent, on the New York Stock Exchange. Tutor Perini Corp. missed analyst expectation for the second quarter on Tuesday. The Sylmar construction company reported net income of $21.3 million (43 cents a share) for the period ending June 30, compared to $11.8 million (24 cents) for the same period last year. Revenue fell less than 1 percent to $1.3 billion Analysts on average expected earnings of 51 cents a share on revenue of $1.4 billion, according to Thomson Financial Network. Shares closed down 21 cents or nearly 1 percent to $24.71 on the New York Stock Exchange. Technology component company Ixia on Tuesday announced second-quarter adjusted earnings that beat Wall Street estimates on revenue and earnings. The Calabasas company, which provides security software for computer networks, reported adjusted net income of $14.9 million (18 cents a share) for the quarter ended June 30, compared with adjusted net income of $16 million (19 cents) in the same period a year earlier. Revenue dropped 8.7 percent to $120 million. Non-adjusted net income was $1.5 million (2 cents a share). Analysts on average expected earnings of 7 cents on revenue of $114 million, according to Thomson Financial Network. Shares closed down 9 cents, or less than a percent, to $11.51 on the Nasdaq.
Earnings: LTC, Tutor Perini, Ixia