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Better than expected sales in the computer segment and growth in the analog product line helped Diodes, Inc. to report an increase in net income for the second quarter ending June 30, the company announced Wednesday. The semiconductor manufacturer reported net income of $11.4 million, or $0.41 per diluted share, on revenues of $82.7 million. That is a 48 percent increase from the second quarter of 2005 when Diodes posted a net income of $7.7 million, or $0.32 per diluted share, on revenues of $50.6 million. Vice President of Sales and Marketing Mark King attributed second quarter growth to better than expected sales in the computer segment and customer purchase of Diodes analog product line. “We are extremely pleased at the positive customer reception to our broader product line following the acquisition of Anachip, resulting in attractive cross selling opportunities and new product development initiatives combining analog and discrete circuits,” King said. Asia accounted for 70 percent of the Westlake Village-based company’s second quarter revenue. North American sales were 26 percent and Europe contributed 4 percent in total sales.

Time Warner Inc. experienced a drop in revenues in its filmed entertainment division, primarily due to a lack of big name home entertainment releases, the company announced Wednesday. Film entertainment revenues were $2.4 billion for the quarter ending June 30. That is a 10 percent drop from the second quarter of 2005, when filmed entertainment revenues were $2.7 billion. The company attributed the drop to higher home video revenues in the second quarter of 2005 with the release of “Ocean’s 12,” “The Aviator,” and several seasons of “Seinfeld.” Time Warner owns the Warner Bros. Studios located in Burbank and is part owner along with CBS Inc. of The CW television network debuting in September, also housed in Burbank. Overall, Time Warner’s net income came in at just over $1 billion or $0.24 per diluted share on revenues of $10.7 billion. That is an increase over the second quarter of 2005 when the company had a net income loss of $409 million, or $0.09 per diluted share, on revenues of $10.6 billion. In late July, Time Warner Cable closed on its joint purchase with Comcast Corp. of assets belonging to Adelphia Communications Corp., growing its customer base for cable in the Los Angeles area. Highlights for the second quarter in the filmed entertainment division included the release of “Superman Returns” to theaters, which generated worldwide box office receipts of $320 million through the end of July; and Warner Home Video ranking number one in home video sales in the U.S. for the year through June 24 with a 19.4 percent market share.

A former official in the Clinton administration has been named director of the office of international trade and development for the city of Los Angeles. Andre Winston Lewis, who assumes a newly created office, will oversee three senior trade specialists who will be involved in attracting and retaining foreign investment, promoting exports and assisting business and trade groups to enhance international trade efforts. Lewis, who was appointed to the post by Mayor Antonio Villaraigosa, was most recently deputy cabinet secretary for former Gov. Gray Davis. Prior to that, Lewis held posts in the Department of State, working on environmental issues and economic and national security issues related to the independent states of the former Soviet Union under President Clinton.

The National Institutes of Health has awarded a $7 million grant to a team of professors from Cal State Northridge. The funds, which will be matched with $85,000 from the school, will fund research in a variety of areas including aging and women, vascular systems, genetic evolution in plants, migration of embryonic cells, cell-to-cell interaction in cancer, the role of genetics in certain diseases and dementia. Biology professor MariaElena Zavala leads the team that includes assistant psychology professor Jill Razani, assistant psychology professor Luciana Lagana, psychology professor Michele Wittig, associate chemistry professor Eric Kelson, assistant chemistry professor Jheem Medh, chemistry professor Joseph Hajdu, physics professor Miroslav Peric, physics professor Radha Ranganathan, associate biology professor Michael Summers, assistant biology professor Virginia Oberholzer Vendergon, assistant biology professor Maria Elena de Ballard and biology professor Steven B. Oppenheimer

17.7 million subscribers is down 34% from 2002; former subscribers can reclaim e-mail addresses; changes fully effective in Sept. Read USA Today’s Money Section.

General Motors Corp. on Wednesday unveiled the new Chevrolet Silverado and GMC Sierra — full-size pickups that generate lots of cash and will be crucial to the company’s turnaround. Read the Chicago Tribune’s Business Section.

BioPharmetics Inc., a North Hollywood manufacturer of drugs and cosmetic products, has secured an order for the company’s Toma nail polish from the owner of Zeller’s, a Canadian department store. The products will be distributed by Cosmetics Based on Nature. There are more than 350 Zeller’s. The chain is owned by Toronto-based The Bay Co., the largest retailer in Canada.

La Canada-based retailer Sport Chalet Inc. reported net income increased 36.2 percent to $530,000 or $0.04 per diluted share for the first fiscal quarter ended July 2, compared to earnings of $398,000 or $0.03 per share in the comparable period a year ago. Sales for the first quarter increased 17 percent to $84.4 million versus $72.1 million for the comparable period in 2005. Comparable store sales rose 3.3 percent in the period.

Burbank, Lancaster and Santa Clarita are finalists for the “Most Business-Friendly City” award by the Los Angeles County Economic Development Corp. The designation is part of the LAEDC’s annual Eddy Awards, which honor economic leadership in the county. All 88 Los Angeles County cities are considered for the best business category, which is based on a city’s priority on economic development, reasonable tax rates and the availability of economic incentives. The LAEDC pointed to Burbank’s various business entry and expansion programs, free wireless internet access in the downtown area and competitive tax rates; Lancaster’s pro-business City Council, fast track permit process and strong incentives; and the available land, high quality of life and expedited plan reviews in Santa Clarita. Other cities up for the award are El Segundo and Long Beach. The winner will be named Oct. 5.