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ORANGE COUNTY EARNINGS

Pacific Gulf Reports $794,000 Profit

November 06, 1994

Pacific Gulf Properties Inc., a Newport Beach real estate investment trust, reported a profit of $794,000, or 19 cents a share, for the third quarter. That contrasted with a loss of $69,000 for the comparable 1993 period. Revenue increased 58% to $6.8 million from $4.3 million.

The company said the 1993 results did not reflect the effect of acquisitions or its public stock offering and related organization transactions, which were completed in February. For the period from Feb. 18 to Sept. 30 this year, Pacific Gulf reported a loss of $884,000, or 21 cents a share, which included a loss of $3 million from extinguishment of debt. Revenue for the period was $15.6 million.

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