Capital Pacific Holdings Inc.: The Newport Beach home builder said it lost $5.2 million, or 35 cents a share, for the third fiscal quarter, which included an $8-million restructuring charge. On Oct. 1, the company transferred nearly all its assets and liabilities to its newly formed entity, Capital Pacific Holdings LLC. The $8-million noncash charge was primarily against the value of certain real estate projects.
For the comparable period last year, the company reported net income of $940,000, or 6 cents a share. Revenue for the quarter ended Nov. 30 declined 6% to $47.7 million from $51 million.