Local Earnings Reports PS Business Parks Inc. reported operating results for the three months ended September 30. Net income for the third quarter was $2.8 million on revenues of $55.2 million compared to income of $7.8 million on revenues of $48.9 million for the period a year ago. K-Swiss Inc. announced the results of its third quarter ended September 30. Net income increased 36.9 percent to $20.6 million compared with $15.1 million in the same period a year ago. Net income for the first nine months of the year increased 34.5 percent to $55.6 million compared with $41.3 million a year ago. Worldwide revenues for the third quarter increased 12 percent to $135.7 million compared with $121.2 million in the same period a year ago. Domestic revenues increased 5.3 percent to $110.9 million and international revenues increased 55.7 percent to $24.8 million. Health Net Inc. reported third quarter net income of $71.8 million compared to a net loss of $2.2 million in the third quarter of 2003. The third quarter net loss in 2003 reflected a settlement of litigation arising in connection with Health Net’s 1998 sale of its workers’ compensation business. Health Net’s total revenues rose 4.2 percent in the third quarter to $2.9 billion from $2.2 billion compared with the third quarter of 2003. Calabasas-based Beverly Hills Bancorp Inc., the parent company of First Bank of Beverly Hills, F.S.B. reported consolidated net income for the quarter ended September 30 of $3.0 million, or $0.14 per diluted shared, compared with $2.7 million, or $0.13 per diluted share, for the comparable period last year. Woodland Hills based Optical Communication Products, a manufacturer of fiber optic systems and storage area networks, reported a net loss of $673,000 for the fourth quarter ended September 30. That compares with a net loss of $2.2 million for the comparable period a year ago. Revenue for the fourth quarter was $13.2 million, a 26 percent increase over the comparable period last year. – Jonathan D. Colburn
