ORANGE COUNTY EARNINGS

SRS Labs Inc.: The Santa Ana developer and licenser of audio and voice enhancement technologies reported net income of $720,422, or 6 cents a share, for the second quarter, a 15% drop from the $848,055, or 8 cents a share, a year ago. Revenue reached a record $11.6 million from $2.1 million. A first-half net loss of $17.5 million, or $1.56 a share, was recorded, which included an $18.5-million write-off of acquired research and development. That contrasted with profit of $1.5 million, or 14 cents a share, a year earlier. Revenue advanced to $18.7 million from $4.3 million.