Originally published July 26, 2007 at 12:00 AM | Page modified July 26, 2007 at 2:02 AM

NW corporate results | Cascade Financial, drugstore.com

Nw corporate results | Dollar figures in thousands, except per share; parentheses denote losses. Cascade Financial Financial services June...


Dollar figures in thousands, except per share; parentheses denote losses.


Cascade Financial
Financial services
	June 30		%
2nd QTR	2007	2006	CHG.
Profit	$3,983	$3,327	+19.7
Per share	0.32	0.27	+18.5
1st HALF	2007	2006	CHG.
Profit	$7,748	$6,500	+19.2
Per share	0.63	0.53	+18.9
Assets	1,344,987	1,294,369	+3.9
COMMENT: The parent company of Everett-based Cascade Bank said it wrote $166 million in new loans during the second quarter, a 44 percent increase from a year ago. Deposits rose 6 percent to $898 million at the end of June, compared with $846 million a year ago.


drugstore.com
Online retailer
	July 1	July 2	%
2nd QTR	2007	2006	CHG.
Profit	($3,015)	($2,193)	-37.5
Per share	(0.03)	(0.02)	-50.0
Sales	110,412	102,436	+7.8
1st HALF	2007	2006	CHG.
Profit	($6,793)	($7,486)	+9.3
Per share	(0.07)	(0.08)	+12.5
Sales	220,177	206,545	+6.6
COMMENT: The Bellevue company experienced an increase in over-the-counter sales this quarter. It expects a net loss between $3 million and $3.5 million in the third quarter and a loss between $8.5 million and $11 million for 2007.


F5 Networks
Networking equipment
	June 30		%
3rd QTR	2007	2006	CHG.
Profit	$21,809	$16,965	+28.6
Per share	0.51	0.41	+24.4
Sales	132,425	100,129	+32.3
9 MOS	2007	2006	CHG.
Profit	$64,118	$48,253	+32.9
Per share	1.51	1.16	+30.2
Sales	380,060	282,332	+34.6
COMMENT: For the fourth quarter, the Seattle company has set a revenue goal between $142 million and $144 million with an earnings target of 53 cents to 55 cents per diluted share.


Frontier Financial
Financial services
	June 30	June 30	%
2nd QTR	2007	2006	CHG.
Profit	$18,171	$17,405	+4.4
Per share	0.40	0.38	+5.3
1st HALF	2007	2006	CHG.
Profit	$35,694	$32,833	+8.7
Per share	0.78	0.73	+6.8
Assets	3,578,969	3,099,500	+15.5
COMMENT: The Everett company had an increase in pre-tax net interest income and growth in loans and deposits. Frontier expects to open three new branches in the second half of 2007.


Seattle Genetics
Biotechnology
	June 30		%
2nd QTR	2007	2006	CHG.
Profit	($10,550)	($8,643)	-22.1
Per share	(0.18)	(0.17)	-5.9
Revenue	5,611	2,840	+97.6
1st HALF	2007	2006	CHG.
Profit	($19,378)	($17,346)	-11.7
Per share	(0.35)	(0.37)	+5.4
Revenue	9,947	4,981	+99.7
COMMENT: Operating costs increased on higher expenses for clinical trials, manufacturing and labor. Revenue increased as well, driven by income from research partnerships — but not enough to offset expenses. First-half per-share figures don't track the direction of the first-half loss because there were about 20 percent more shares outstanding in the latest period.


Washington Banking
Financial services
	June 30		%
2nd QTR	2007	2006	CHG.
Profit	$2,460	$2,486	-1.0
Per share	0.26	0.26	0
1st HALF	2007	2006	CHG.
Profit	$4,728	$5,038	-6.2
Per share	0.50	0.53	-5.7
Assets	852,056	768,020	+10.9
COMMENT: The Oak Harbor holding company for Whidbey Island Bank said total loans increased 11 percent to $764 million from $686 million a year ago. It said loan growth helped boost net interest income 2 percent to $9.4 million in the second quarter.

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