ORANGE COUNTY EARNINGS

SRS Labs Inc.: The Santa Ana developer and licenser of audio and voice technologies said it lost $18.2 million, or $1.68 a share, for the first quarter, which included acquisition-related charges of $18.5 million. For the 1997 first quarter, net income totaled $694,975, or 7 cents a share. Revenue climbed to $7.1 million from $2.2 million. Two months of results from Valence Technology Inc., acquired this year, are included in the 1998 first-quarter numbers.