Also. . .
Chatsworth-based Chad Therapeutics Inc., which makes oxygen systems for pulmonary patients, reported a fiscal second-quarter net loss of $434,000, or 4 cents per share, compared with net income of $2,000, or 0 cents, a year ago. Revenue fell 12% to $3.4 million.
* Citing increased profitability in its communications business but lower TV production sales, Burbank-based Dick Clark Productions Inc. reported fiscal first-quarter net income of $360,000, or 4 cents per share, compared with $46,000, or 0 cents, a year ago. Revenue fell to $10.6 million from $13.1 million.
* Burbank-based Iwerks Entertainment Inc., a provider of high-tech entertainment systems, reported a fiscal first-quarter net loss of $1.6 million, or 13 cents per share, compared with a net loss of $990,000, or 8 cents, a year ago. Revenue rose to $7.6 million from $7.4 million.
* Santa Barbara-based medical device maker Miravant Medical Technologies reported a third-quarter net loss from operations of $5.5 million, or 30 cents per share, compared with a loss of $5.1 million, or 30 cents, a year ago. Revenue fell to $2.4 million from $3.8 million.
* Shares of Salem Communications Corp., a Camarillo-based broadcaster of religious-based radio programming, fell 26% after the company posted a third-quarter loss and spent more on its Internet business. Shares fell $6.75 to close at $19.50 on Nasdaq. The company first sold shares to the public at $22.50 each in July. Loss from operations was $138,000, or 1 cent a share, compared with net income of $184,000, or 1 cent, a year ago. Revenue rose 20% to $23.1 million.
* Biotechnology giant Amgen Inc. and Johnson & Johnson next month will ask arbitrators to decide on Amgen’s demands that it regain rights to market Procrit, an anemia treatment that’s one of J&J;’s biggest drugs. The two companies will argue their cases before a Chicago arbitration panel. Thousand Oaks-based Amgen contends J&J; intentionally sold Procrit to be used to treat kidney dialysis patients in the U.S., a market for which Amgen has exclusive rights. J&J; has the right to sell the drug for other uses.
