Profit

Business picked up for Glendale-based Public Storage Inc. in the third quarter, and the company is looking to buy more properties to add to the 2,000 self-storage locations it operates in the United States, according to an announcement on Friday. The company, the largest self-storage firm in the world, increased profit and revenue compared with the same period last year, and saw the number of tenants at its units grow by a total of 15,000. President and Chief Executive Ronald Havner Jr. said that Public Storage will continue to offer special $1-a-month move-in deals to new customers, but that if trends continue it will restore normal pricing by the middle of 2011.

DineEquity Inc., the Glendale-based owner of IHOP Restaurants and Applebee's Neighborhood Grill & Bar, is making a heavy push toward franchising. More than 95% of the company's thousands of restaurants are now owned by entrepreneurs, DineEquity said Tuesday when it announced its first quarter earnings . The franchise model helps keep the company's balance sheet from wild swings, leading to a 5.5% boost in profit to $31.3 million, or $1.64 a share, from $29.7 million, or $1.53 a share during the same quarter a year earlier.

DreamWorks Animation posted a nearly 40% drop in profit in the first quarter while revenue remained virtually flat. For the three months ended March 31, the Glendale studio posted net income of $5.6 million, or 7 cents a share, on revenue of $135 million. That compared with net income of $9.1 million, or 11 cents a share, and revenue of $136.1 million during the same period a year earlier, the company said in a statement. Still, despite the decline in profits the company's results exceeded what industry analysts had projected.

The student infirmary at GAR Services has been renovated for the first time since 1986. Formerly known as the Glendale Assn. for the Retarded, GAR Services offers job placement and training to nearly 80 adults with developmental disabilities. The infirmary equips GAR’s clients with a place to rest or tend to any medical needs. “It’s the most utilized room,” said Salpi Kerkyasharian, a multi-cultural counselor for the nonprofit. “We have individuals who have seizures, cerebral palsy, trips, falls — injuries are common.” Kerkyasharian was one of several members of Leadership Glendale, a group of local business and civic leaders sponsored by the Glendale Chamber of Commerce, who took on the project.

DreamWorks Animation reported a 24% jump in profits in the third quarter due to the box-office success of "Madagascar 3: Europe's Most Wanted. " The Glendale-based animation studio posted net income of $24.4 million, or $0.29 a share, on revenues of $186.3 million, in the quarter ended Sept. 30. That compared with a profit of $19.7 million, or $0.23 per share, on revenues of $160.8 million during the same period in 2011. DreamWorks Animation Chief Executive Jeffrey Katzenberg said the results stemmed from the "blockbuster international box office success" of " Madagascar 3: Europe 's Most Wanted," which he said was the fifth-highest-grossing film of the year on a global basis.

Media conglomerate Time Warner Inc. said Wednesday that its second-quarter profit grew 14 percent, thanks to higher revenue from its TV channel business, video games and movies such as "The Hangover Part II. " The owner of HBO, Warner Bros. and People magazine reported net income of $638 million, or 59 cents per share, in the April-June period, up from $562 million, or 49 cents per share, a year earlier. Adjusted earnings were 60 cents per share in the latest quarter, above the 55 cents per share that analysts polled by FactSet had expected.

MPG Office Trust Inc., the largest office landlord in downtown Los Angeles, reported a profit in the second quarter as the sale of some large commercial buildings boosted the bottom line. "Operating conditions are still challenging, but MPG is making headway clearing out some junk in the trunk," said analyst Michael Knott of Green Street Advisors. "MPG has made some nice progress but really needs a strong rebound in downtown L.A. leasing and cash flow. " The Los Angeles real estate investment trust, which also owns several buildings in Orange and San Diego counties, finished the quarter with a profit of $118.4 million, or $2.42 a share.

Josh Kleinbaum Rick Caruso has made a living building shopping destinations in Southern California such as the Grove, the Encino Marketplace and the Promenade at Westlake. For each of those developments, Caruso Affiliated Holdings had control of the projects and their profits. Now, for the first time, Caruso has a partner. Glendale released preliminary business terms for the proposed Town Center, including a profit-sharing system that will tie Caruso and the city into the success of the project, a proposed 15.5-acre commercial and residential campus in downtown Glendale.

Movies and movie-themed products were bright spots for Burbank-based Walt Disney Co. in a quarter that saw an overall decline in profits, according to figures released Friday. The diverse company — which owns theme parks, television networks and newly acquired assets, including Marvel Comics and video game developers — reported a profit of $835 million in the quarter ending Oct. 2. That figure was down 6.7% from $895 million for the same period last year. Revenues were down 1%, from $9.9 billion to $9.7 billion, the company reported.

DreamWorks Animation posted a nearly 40% drop in profit in the first quarter while revenue remained virtually flat. For the three months ended March 31, the Glendale studio posted net income of $5.6 million, or 7 cents a share, on revenue of $135 million. That compared with net income of $9.1 million, or 11 cents a share, and revenue of $136.1 million during the same period a year earlier, the company said in a statement. Still, despite the decline in profits the company's results exceeded what industry analysts had projected.

DreamWorks Animation reported a 24% jump in profits in the third quarter due to the box-office success of "Madagascar 3: Europe's Most Wanted. " The Glendale-based animation studio posted net income of $24.4 million, or $0.29 a share, on revenues of $186.3 million, in the quarter ended Sept. 30. That compared with a profit of $19.7 million, or $0.23 per share, on revenues of $160.8 million during the same period in 2011. DreamWorks Animation Chief Executive Jeffrey Katzenberg said the results stemmed from the "blockbuster international box office success" of " Madagascar 3: Europe 's Most Wanted," which he said was the fifth-highest-grossing film of the year on a global basis.

DreamWorks Animation, the Glendale studio behind the " Shrek " and " Madagascar " movies, reported lower-than-expected financial results for the second quarter. For the quarter ended June 30, the company reported net income of $12.8 milion, or 15 cents per share, down 62% from a year earlier. Revenue for the quarter also fell sharply, declining 25% to $162.8 million. Analysts had forecast net income of 25 cents per share. Continue reading > > -- Richard Verrier  

I read with much sadness last week the article by City Editor Jason Wells on the upcoming departure of Camille Levee, the director of Glendale Healthy Kids, before the end of this month. I can't top the descriptive adjectives used in that article to describe the goals and achievements except to say that we're losing not only an outstanding director, but, more so, a beautiful “mom” that this director has proven to be during her tenure at Healthy Kids. I admire her gifts of observation and in paying special attention to detail, as with her latest fund-raising effort, the “Taste of Downtown Glendale.” Levee works well with people, especially with parents of kids of special needs.

Comcast Corp.'s earnings jumped nearly 30% in its first quarter as more customers signed up for high-speed Internet service.  But the cable Goliath also showed strength in some an unexpected quarters: the long-lagging NBC broadcast unit and Universal Pictures, which released two hit movies, including "The Lorax. " For the quarter ended March 31, the Philadelphia-based company said its net income grew to $1.22 billion, or 45 cents per share, from $943 million, or 34 cents per share, from the year-earlier period.

DineEquity Inc., the Glendale-based owner of IHOP Restaurants and Applebee's Neighborhood Grill & Bar, is making a heavy push toward franchising. More than 95% of the company's thousands of restaurants are now owned by entrepreneurs, DineEquity said Tuesday when it announced its first quarter earnings . The franchise model helps keep the company's balance sheet from wild swings, leading to a 5.5% boost in profit to $31.3 million, or $1.64 a share, from $29.7 million, or $1.53 a share during the same quarter a year earlier.

Dear Frank, It pains me to write this. Last year I wrote to you, pleading with you to give us back our Los Angeles Dodgers and show yourself out of town. On behalf of all Angelenos who bleed Dodger blue, I implored you to do what you knew in your money-loving, American Express Black Card, bankrupt heart was best, and make a few hundred million dollars for yourself and your ex-wife by selling our team. And this week, you did it.* So here's the hard part. (deep breath)

Strong performances at Walt Disney Co. 's domestic theme parks and by Pixar , Marvel, ESPN and ABC ," Disney President and Chief Executive Bob Iger told analysts. Before Disney reported its results, media analysts said they would be watching advertising trends at ESPN, the powerhouse cable sports network that Morgan Stanley estimates contributes about 8% of the company's revenue. Continue reading > > -- Dawn C. Chmielewski, Los Angeles Times Photo: Visitors to Walt Disney Co.'s California Adventure theme park in Anaheim take in the "Ariel's Undersea Adventure" ride.

Media conglomerate Time Warner Inc. said Wednesday that its second-quarter profit grew 14 percent, thanks to higher revenue from its TV channel business, video games and movies such as "The Hangover Part II. " The owner of HBO, Warner Bros. and People magazine reported net income of $638 million, or 59 cents per share, in the April-June period, up from $562 million, or 49 cents per share, a year earlier. Adjusted earnings were 60 cents per share in the latest quarter, above the 55 cents per share that analysts polled by FactSet had expected.