Smith Micro Software Loses Money, Financial Officer

Smith Micro Software Inc., an Aliso Viejo maker of wireless communication and utility software products, reported a net loss of $3.8 million, or 24 cents a share, for the second quarter, compared with a net loss of $632,000, or 4 cents a share, a year ago. Revenue declined 66% to $1.1 million.

Smith Micro also said Richard Bjorkman has resigned as chief financial officer to pursue other interests. Robert Scheussler, the chief operating officer, will be acting chief financial officer in addition to his current duties. In a cost-cutting move, the company said it does not plan to replace Bjorkman immediately.

CorVel Corp., Irvine provider of managed health care services, reported record net income of $3.6 million, or 47 cents a share, up 13% from $3.2 million, or 41 cents a share, a year ago. Revenue advanced 15% to $58 million.

ICU Medical Inc., a San Clemente maker of medical connectors, reported net income of $3.8 million, or 39 cents a share, 27% higher than $3 million, or 33 cents a share, earned in last year’s second quarter. Sales were up 25% to $17 million.

Interpore Cross International Inc., an Irvine medical device company, reported second-quarter net income of $1.2 million, or 8 cents a share, 26% higher than $974,000, or 7 cents a share, posted for the prior-year period. Sales reached a record $13 million, up 15%.

Biolase Technology Inc., San Clemente maker of dental and surgical products, said its net loss for the second quarter narrowed to $147,462, or 1 cent a share, from $887,776, or 4 cents a share, a year ago. Sales rose 87% to $4.3 million.

Medical device maker ChromaVision Medical Systems Inc. in San Juan Capistrano said it lost $3.7 million, or 18 cents a share, in the second quarter, about the same as its year-earlier net loss of $3.7 million, or 19 cents a share. Revenue rose to $949,423 from $337,822.

Pacific Mercantile Bancorp in Costa Mesa posted second-quarter net income of $420,000, or 7 cents a share, contrasted with a net loss of $236,000, or 6 cents a share, for the same quarter of 2000. Total assets grew 45% to $190 million.

Pacific Liberty Bank in Huntington Beach reported net income of $86,000, or 15 cents a share, for the second quarter, a 15% increase over earnings of $75,000, or 13 cents a share, for last year’s second quarter. Revenue shot up 54% to 1 million. The bank’s assets jumped 74% to $53.3 million.