Mission West Properties, a Del Mar-based real estate development company, reported fourth-quarter net income of $911,300, down from $4.3 million last year. Last year's result included a major portion of the gain from the sale of the company's 4.5-acre parcel in downtown Del Mar. The company did not disclose the precise amount of the gain.
Revenue for the fourth quarter totaled $6.5 million, down from $10.3 million over the comparable quarter last year.
Mission West's profit for the fiscal year ended Nov. 30 was $723,641, down from $4.9 million during fiscal 1986. Sales for the recently completed year were $7.9 million, down from $15.4 million for fiscal 1986.