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IN BRIEF.

VALLEY INDEX DROPS: Shares of companies in the Daily News Index were mostly lower Monday, led by Westlake Village's K-Swiss Inc. and Newbury Park's Semtech Corp. K-Swiss fell $2.25 to $47. Semtech dropped $1.375 to $25.6875.

- Daily News

DONE DEAL: Woodland Hills-based telecommunications software developer Vertel Corp. said it has completed the purchase of San Diego-based Expersoft Corp., also a software developer. Vertel paid $3 million for the purchase, which it is recording as a merger. Vertel shares closed down 6.25 cents at $1.50.

- Daily News

VALUATION: Woodland Hills-based insurer Zenith National Insurance Corp. said a third-party assessment of the value of a business it bought from Riscorp Inc. in April puts the fair market price at $92.3 million, far less than Riscorp had anticipated. Zenith already has paid Riscorp $35 million. Zenith said it is now considering what changes it will have to make to its financial statements to account for the lower valuation. Zenith shares closed down 68.75 cents at $24.25.

- Daily News

EARNINGS

Whitewing Labs Inc.

Mission Hills-base developer and marketer of nutritional supplements

Dec. 4th Qtr. 1998 1997

Sales $579,069 $1.3 million

Net Income (Loss) ($14,964) ($50,277)

Net Per Share (1 cent) (2 cents)

Year End 1998 1999

Sales $3.9 million $3.6 million

Net Income (Loss) ($273,939) ($943,652)

Net Per Share (9 cents) (33 cents)

Fourth-quarter revenues fell as the company focused advertising media on more profitable products.
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Title Annotation:BUSINESS
Publication:Daily News (Los Angeles, CA)
Geographic Code:1USA
Date:Mar 23, 1999
Words:248
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