Gulf & Western’s net income rose to...

Gulf & Western’s net income rose to $53.3 million in its second quarter, up from $52.7 million a year ago, the New York-based diversified firm said. Revenue totaled $1.1 billion, compared to $1 billion for the same quarter of fiscal 1987. The company said it expects a record year based on the strength of its summer motion picture schedule--paced by “Crocodile Dundee II”; the performance of its publishing operations and strong earnings in its financial services operations.