Genentech Cites Activase in Profit Rise

South San Francisco-based Genentech Inc. said Wednesday that rising sales of its heart attack drug Activase following a key study helped triple the company’s second-quarter earnings.

The leading biotechnology company earned $10.4 million, or 9 cents a share, for the three months ended June 30, compared to $3.4 million, or 3 cents a share, for the same period a year ago.

Revenue rose 25% to $169.8 million, from $136 million.

Researchers found that Activase saved more lives in emergency heart attack treatment than a less expensive European rival, streptokinase.

* CBS Inc. reported that earnings for the second quarter increased 56% to $107.4 million from a year ago, as the nation’s No. 1 prime-time network built on its popularity with viewers.

“Despite a slow-growth economy, the CBS Television Network registered a sales increase of 8%, reflecting the popularity of its prime-time and daytime programming among both viewers and advertisers,” Chief Executive Laurence A. Tisch said in a statement.

Earnings for the quarter totaled $6.73 a share, compared to $69 million, or $4.46 a share, in the second quarter of 1992. Revenue improved 7% to $835.8 million, from $779.9 million.

The earnings included a pretax gain of $14.2 million from the sale of securities and pretax income of $10.7 million related to insurance settlements, the company said.

* Sneaker maker L.A. Gear Inc. reported another quarterly loss, saying sluggish retail orders and price competition may keep the company from recording a second-half profit as well.

During the March-to-May quarter, the second in the Santa Monica-based firm’s fiscal year, the company lost $13.2 million, or 57 cents a share.

Its year-earlier loss of $24.4 million, or $1.19 a share, included a 68-cent-a-share charge to cover the cost of settling shareholder lawsuits.