EUniverse Posts Wider Loss, First Operating Profit

EUniverse Inc., an operator of entertainment Web sites, said Thursday that its fiscal third-quarter loss widened as revenue soared eleven-fold on increased direct marketing and advertising sales.

The Los Angeles-based company said its loss from continuing operations for the quarter ended Dec. 31 widened to $2.7 million, or 15 cents a share, from $2.1 million, or 13 cents, a year earlier. Revenue rose to $4.6 million from $400,000.

EUniverse said this was the first time it had generated an operating profit, excluding certain items, as it increased its revenue and cut expenses. Excluding amortization and stock-based compensation costs, EUniverse earned $147,000, compared with a loss of $1.6 million a year earlier. The company didn’t expect to have an operating profit until the current quarter, Chairman and Chief Executive Brad Greenspan said.

The company expects to show a net profit in the next couple of quarters, Greenspan said.

EUniverse shares rose 19 cents to close at $2.69 on the Nasdaq Small-Cap Market. They’ve fallen 76% over the last year.

At a Glance

Other Southern California company earnings, excluding one-time gains and charges unless noted:

* Computer products maker Bell Industries of El Segundo reported fourth-quarter net income of $570,000, or 6 cents per share, compared with income from continuing operations of $1.1 million, or 12 cents, a year ago. Sales rose 29% to $63.2 million.

* Real estate company CB Richard Ellis of Los Angeles reported fourth-quarter net income of $21 million, or 97 cents per share, compared with $17.0 million, or 81 cents, a year ago. Revenue rose 6% to $418.3 million.

* Refinery operator Huntway Refining Co. of Newhall reported fourth-quarter net income of $4.1 million, or 14 cents per share, on revenue of $56.0 million. That compares with net income of $937,000, or 4 cents, on revenue of $34.4 million a year ago. The jump in earnings and revenue was attributed to higher average product selling prices and an 8% growth in sales volume.

* Woodland Hills-based Vertel Corp., which makes mediation software for telecommunications networks, reported a fourth-quarter net loss of $2.1 million, or 7 cents per share, compared with a loss of $1.5 million, or 6 cents, a year ago. Revenue fell nearly 50% to $2.7 million.