EARNINGS REPORTS: 2ND-QUARTER FIGURES SURGE AT VDI MEDIA.

Byline: Daily News

Local companies reported mixed second-quarter results Wednesday, led by a 127 percent gain in profits for Hollywood-based VDI Media.

VDI, a specialist in video duplication and distribution to more than 900 TV stations and cable companies, posted quarterly earnings of $869,000, or 9 cents a share, compared with $383,000 in the year-ago period. Sales grew 61 percent to $8.8 million from $5.5 million.

Stock of VDI was off $1.625 to $13.50 a share for its third straight decline after hitting an all-time high of $15.375 on Friday. The issue went public in February at $7 a share.

Woodland Hills-based Zenith National Insurance Corp. reported a 26.2 percent decline in earnings to $7.9 million, or 44 cents a share, from $10.7 million, or 60 cents a share, in the year-ago period. It blamed the decline on lower-than-normal results in its workers' compensation business.

The earnings were 2 cents above the consensus estimate of three analysts polled by Zacks Investment Services. Zenith stock was unchanged at $27 a share.

Lebec-based Tejon Ranch Co., whose vast land holdings are north of Castaic in Los Angeles County, reported earnings of $51,000, a loss of $6,000 from the 1996 level. Revenues were up 45 percent to $6.25 million from $4.31 million because of gains in livestock and farming - grapes, pistachio nuts and walnuts - partly offset by sale of fewer cattle.

Tejon stock was up $1.625 to $24.75 a share Wednesday.