ORANGE COUNTY EARNINGS - Los Angeles Times
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ORANGE COUNTY EARNINGS

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Day Runner Inc.: The Irvine manufacturer of organizers and planners posted record second-quarter net income of $5.5 million, or 90 cents a share, a 22% increase from the $4.5 million, or 67 cents a share, for the year-earlier period. Sales for the quarter ended Dec. 31 advanced 41% to $49.4 million from $35 million.

First-half net income grew 18% to $9.9 million, or $1.59 a share, from $8.4 million, or $1.25 a share, for the first six months of the prior fiscal year. Sales were up 28% to $87.5 million from $68.6 million.

The company also announced that its board of directors has approved a 2-for-1 stock split and a doubling of the company’s number of authorized shares from 15 million to 30 million shares. Both actions are subject to stockholder approval at a special meeting March 17.

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