THQ Inc. THQ Inc. executives are optimistic about the upcoming video game titles to boost sales following poor results for the second quarter. The Agoura Hills-based game publisher reported a net loss of $47 million, or $0.69 per diluted share, on revenues of $77 million for the quarter ending Sept. 30. For the same period a year ago the company had a net loss of $5.6 million, or $0.08 per diluted share, on revenues of $101.3 million. That no new major game titles were released in the quarter could have contributed to the poor earnings. THQ President and CEO Brian Farrell looks to the holiday season to brighten the company’s finances as the games that have been in development for two years will begin to hit shelves, including the latest title in the WWE Smackdown vs. Raw franchise. In the spring, the company releases “Homefront” and games from the WWE and UFC franchises. THQ is investing in its product pipeline with additional title from original franchises Saint’s Row, Red Faction and Warhammer. “We continue to execute on our strategy of integrating a digital component into all of our key franchises, including downloadable content and games on the iPhone, iPad, Facebook, Xbox LIVE Arcade and PlayStation Network,” Farrell said. Crown Media Holdings Advertising tied to the new lifestyle programming block contributed to Crown Media Holdings posting positive earnings results for the third quarter when compared to a year ago. The parent of the Hallmark Channel and Hallmark Movie Channel reported net income of $5.9 million on revenues of $62.5 million for the quarter ending Sept. 30. For the same period a year ago, the media company had a net loss of $10.2 million, or $0.10 per diluted share, on revenues of $62.8 million. In the third quarter Crown started airing its much anticipated block of lifestyle programming anchored by “The Martha Stewart Show.” An increase in advertising revenue to $48.5 million for the quarter was attributed to the programming block. The eight hours of daytime programming is Crown’s first step in establishing original series targeted at women in the 25 years to 54 years old category that is sought by advertisers and distribution partners, said President and CEO Bill Abbott. Ratings for Stewart’s show, however, have been lackluster and led to the forcing out in October of Laura Sillars, senior vice president for lifestyle programming. Improvements have been seen in ratings for Stewart’s show as well as original lifestyle series “Mad Hungry with Lucinda” and “Whatever with Alexis and Jennifer,” the company said. AML Communications Inc. Preparations to begin meeting an order of components used in unmanned aerial vehicles contributed to AML Communications Inc. posting lower revenue for the second quarter when compared to a year ago. The Camarillo-based manufacturer of microelectronic assemblies eported net income of $189,000, or $0.02 per diluted share, on revenues of $3.8 million for the quarter ending Sept. 30. For the same period a year ago, AML reported net income of $486,000, or $0.05 per diluted share, on revenues of $4.5 million. The company invested in efficiency and cost savings improvements to meet the 50 percent increase in production level anticipated to fill a $3.7 million contract for assemblies used in unmanned vehicles. The production of those components is expected to begin in the fourth quarter. Temporary allocation of resources associated with production on a new program also contributed to lower revenues in the second quarter, the company said. California United Bank California United Bank’s strategic investments helped fuel an increase in assets and deposits during the third quarter, but growth also presented short term earnings challenges for the bank which reported a loss for the period. The Encino-based bank reported a loss of $447,000 for the quarter, while its assets increased by 10 percent to $589.8 million from the previous quarter and by 28 percent from the same quarter last year. The bank’s total deposits increased by 15 percent from the previous quarter and by 36.6 percent from the same period last year to $484.2 million. The bank’s $309.1 million in loans represents an eight percent increase from the previous quarter and a 23 percent increase over the same quarter in 2009. The bank’s third quarter performance reflects a strategy suited for well capitalized banks not faced with loan quality issues, said California United Bank President and CEO David Rainer. Achievements during the quarter included the opening of a loan production office in Irvine to house the new Orange County regional production team; the announcement of an agreement to acquire California Oaks State Bank in Thousand Oaks, and the completion of construction of the bank’s 4th full-service branch office in the South Bay which will open in November. Dreamworks Animation SKG Inc. Strong international box office for “Shrek Forever After,” contributed to DreamWorks Animation SKG Inc. doubling its net income for the third quarter when compared to a year ago. The Glendale-based animation studio reported net income of $39.8 million, or $0.47 per diluted share, on revenues of $188.9 million for the quarter ending Sept. 30. In the same period from 2009, the company reported net income of $19.6 million, or $0.23 per diluted share, on revenues of $135.4 million. The fourth film in the “Shrek” franchise contributed $120.4 million in revenue, primarily from overseas box office receipts. To date the film, released in May, has a total box office take of $735 million. The studio anticipates the home entertainment release of “Shrek Forever After” and “How To Train Your Dragon” will drive fourth quarter revenues.
