Island seafood A new eatery described as...

Island seafood

A new eatery described as an upscale seafood restaurant is poised

to replace the Hard Rock Cafe at Fashion Island. A release issued by

Outback Steakhouse Inc. spokeswoman Stephanie Amberg said the

restaurant would be called Blue Coral Seafood & Wine, a joint

venture between Outback and Paul Fleming, who co-developed Fleming’s

Prime Steakhouse & Wine Bar.

Hard Rock Cafe closed in June. The new restaurant is expected to

open early next year. Blue Coral Seafood & Wine will be adjacent to a

Fleming’s Prime Steakhouse & Wine Bar at Fashion Island.

Record earnings

Newport Beach-based Downey Financial Corp. reported record

second-quarter earnings Tuesday.

During the second quarter of 2005, Downey Financial’s reported

earnings were $64.1 million. Last year, the firm earned $27.8 million

during the second quarter

As of June 30, Downey Financial’s net income was $115.8 million, a significant increase over last year’s figure of $36.7 million.

More record earnings

Costa Mesa software company FileNet Corp. reported a 24% increase

in second-quarter revenues over 2004.

For the quarter ending June 30, FileNet’s software revenues were

$40.6 million, up from $32.7 million for the same quarter last year.

FileNet’s total second-quarter earnings were $104.6 million, an

increase from last year’s $94.1 million.