NEWPORT BEACH — J.M. Peters Co. Inc., a major regional home builder, said that earnings in its fiscal 1994 third quarter tripled to $6 million, with much of the increase due to a onetime gain of $4.4 million from the restructuring of a project financing agreement.
Quarterly sales increased 58%, to $37.3 million from $23.5 million a year ago, as J.M. Peters completed 165 homes. Operating profit for the quarter climbed to $1.6 million, or 11 cents a share, from the year-earlier $200,000, or 1 cent a share.