Easton-Bell Sports Inc., Reach Local Inc., ValueClick Inc. and Salem Communications Inc. reported third quarter earnings, while Cherokee Inc. declared a dividend.
Easton-Bell reported a decrease in sales in its fiscal third quarter, largely due to lower hockey and cycling sales and its exit from the fitness product category.
The Van Nuys sporting goods manufacturer reported a net loss of $8.7 million in the quarter ended Sept. 28, compared to net income of $3.7 million a year earlier. Sales fell about 6.5 percent to $199.4 million
Easton-Bell is a privately held company but reports limited financial information because its debt trades on public markets.
The company blamed the poor showing on lower sales of its hockey equipment, including sticks, helmets and skates. It also said it absorbed costs from its previously announced exit from the fitness product category. That was reflected in a 7.5 percent sales decrease in the Action Sporst division.
In April, there were reports that the company was on the market for $900 million. Both Easton-Bell and Fenway Partners LLC, the New York private equity firm that owns the company, have declined to comment on the matter.
ReachLocal, a Woodland Hills online advertising company for smaller businesses, reported a loss of $1.1 million (-4 cents a share) for the third quarter ended Sept. 30, compared to net earnings of $836,000 (3 cents) for the same period last year. Revenues rose 11.9 percent to $133 million.
Analysts on average expected a loss of 1 cent a share, according to Thomson Financial Network.
The company said higher costs associated with entering new geographical markets and the departure of former chief executive Zorik Gordon drove the lower earnings.
Shares closed up 16 cents, or 1.3 percent, to $12.17 on the Nasdaq.
ValueClick, a Westlake Village Internet advertising company, reported net income of $18 million (25 cents a share) for the third quarter ended Sept. 30, compared to $23.5 million (31 cents) for the same period last year. Revenue grew 2.4 percent to $134 million.
Analysts on average expected earnings of 40 cents a share, according to Thomson Financial Network.
The company said higher-margin types of ads accounted for the improved performance.
Shares closed up 5 cents, or a fraction of a percent, to $19.94 on the Nasdaq.
Salem Communications, a Christian broadcaster and publisher in Camarillo, reported net income of $5.3 million (21 cents) for the third quarter ended Sept. 30, compared to $3.7 million (13 cents a share) for the same period last year. Revenue increased 3.1 percent to nearly $59 million.
Analysts on average expected earnings of 12 cents a share, according to Thomson Financial Network.
Shares of Salem closed down 4 cents, or less than 1 percent, to $8.40 in trading on the Nasdaq.
Cherokee announced it will pay shareholders a quarterly dividend of 10 cents a share.
The Van Nuys apparel brand-licensing company will pay the dividend to shareholders of record as of Dec 2. It will be payable on or about Dec. 16.
Since 1996, Cherokee has paid out about $228 million in dividends.
Shares closed down 4 cents, or less than 1 percent, to $13.67 on the Nasdaq.