Earnings at CalFed, parent company of California...

Earnings at CalFed, parent company of California Federal Savings & Loan, rose 24% in the first quarter, a spokesman reported. Profits reached a record $45.3 million, compared to $36.6 million the year before. CalFed’s improved financial performance resulted from increases in interest income, gains on the sale of loans and higher earnings from its non-savings and loan businesses, the spokesman added.