Warner Center Bank Profit Soars
Warner Center Bank of Woodland Hills reported profits of $232,000, or 33 cents a share, for its second quarter, which ended June 30. That is an increase of 91% over the same period a year ago.
For the six months ended June 30, profits advanced to $395,000, or 56 cents, up 74% over the corresponding 1984 period. The figures reflect a $113,000 federal income tax credit from increased lending activities, according to bank officials.
For the record:
12:00 a.m. July 17, 1985 FOR THE RECORD
Los Angeles Times Wednesday July 17, 1985 Valley Edition Business Part 4 Page 2 Column 6 Financial Desk 1 inches; 33 words Type of Material: Correction
Warner Center Bank of Woodland Hills received a $113,000 federal income tax credit in the second quarter ended June 30 primarily due to increased leasing activities. The reason for the income tax credit was reported incorrectly Tuesday.
Total assets on June 30 were $44.6 million, up nearly 4% for the quarter. Total deposits were $40.2 million, also up 4% for the quarter.
California Amplifier’s Sales Show Sharp Drop
California Amplifier Inc. reported sales of $2.9 million for its first quarter, which ended May 31, down 52% from the corresponding period a year ago. Net loss for the period was $246,000, or 7 cents a share, contrasted with a net income for the corresponding quarter in 1984 of more than $1 million, or 30 cents.
During its fiscal year ended Feb. 28, the company had sales of nearly $19 million, up 26% over the previous year. The company showed a net loss for the year of $634,000, or 18 cents a share, against profits of $2.4 million, or 81 cents, for the previous year.
California Amplifier, based in Camarillo, manufactures low-noise microwave amplifiers and other products used to receive signals from satellite communication systems.
For details and reports of other companies, see tables on Page 17.
