Westcorp Inc.
The Irvine financial services holding company, whose principal subsidiaries are WFS Financial Inc. and Western Financial Bank, reported record net income of $15.5 million, or 58 cents a share, for the fourth quarter, compared with $800,000, or 3 cents a share, for the last three months of 1998. Quarterly revenue rose to $128.5 million from $110.8 million. For the year, Westcorp earned $52.6 million, or $1.99 a share, compared with a net loss of $14.7 million, or 56 cents a share in 1998. Annual revenue grew to $507.6 million from $405.6 million.
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