More results

Regal Entertainment Group, the world’s largest cinema operator, said first-quarter profit jumped on proceeds from the initial public offering of National CineMedia Inc. Net income increased to $229.1 million, or $1.46 a share, from $11.2 million, or 7 cents, a year earlier, Knoxville, Tenn.-based Regal said. Sales rose 6.8% to $625 million, beating the $598.3-million average estimate of analysts surveyed by Bloomberg.

---

Broadcom Corp., a chip maker that had the biggest financial restatement in the U.S. stock option scandal, said first-quarter profit fell 48% because of rising research costs. Net income dropped to $61 million, or 10 cents a share, from $117.7 million, or 20 cents, a year earlier, Irvine-based Broadcom said. Sales were little changed at $901.5 million, topping the $899.6-million average estimate of analysts surveyed by Bloomberg.

---

Ingram Micro Inc., the world’s largest distributor of computers, software and electronics, said first-quarter profit fell 40% because of a Brazilian tax charge. Net income dropped to $37 million, or 21 cents a share, from $61.7 million, or 36 cents, a year earlier, the Santa Ana-based company said. Sales rose 8.5% to $8.25 billion.

---

Clear Channel Communications Inc. said first-quarter profit rose 5.6% as advertising sales increased. Net income advanced to $102.2 million, or 21 cents a share, from $96.8 million, or 19 cents, a year earlier. Sales rose 8% to $1.61 billion, said San Antonio-based Clear Channel, the largest U.S. radio company. The results beat analysts’ estimates.

---

Jakks Pacific Inc. said its first-quarter profit climbed 39% on rising sales of the company’s role-play and dress-up games and strong demand for its television and movie-based toys. The Malibu-based toy maker said net income grew to $3.2 million, or 12 cents a share, from $2.3 million, or 9 cents, a year earlier. Revenue rose 16% to $124.1 million.

---

Standard Pacific Corp. reported a first-quarter loss of $40.8 million, or 63 cents a share, from a profit of $94.8 million, or $1.38, a year earlier. The Irvine-based home builder said revenue fell to $698.3 million from $879 million.

---

Western Digital Corp., the Lake Forest-based computer disk drive maker, reported that net income rose to $121 million, or 53 cents a share, from $102 million, or 45 cents, a year earlier. Revenue rose to $1.41 billion from $1.13 billion. Western Digital shipped 24.5 million units in the quarter, up 30%.