Downey Financial Corp.: The Newport Beach parent...

Downey Financial Corp.: The Newport Beach parent company of Downey Savings & Loan reported first-quarter net income of $25.9 million, or 91 cents a share. Net income for last year’s first three months was $27.4 million, or 97 cents a share, including a gain of $5.6 million from the sale of an automobile finance unit. Total quarterly revenue grew 13.5% to $225.9 million. Total assets increased 10% to $11 billion at the end of March from a year earlier.