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August 22, 2000

* Shares of Imperial Credit Industries Inc. tumbled 21% after the Torrance-based financial services firm restated its second-quarter results to a 61-cent-per-share operating loss due to an increased loan-loss provision. Earlier it had declared an operating net of 41 cents for the quarter. Last week though it received the preliminary results of the annual joint examination by the state Department of Financial Institutions and the Federal Deposit Insurance Corp. Based on those results, the firm revised its provision for loan and lease losses, and nonaccrual loans. Shares fell 72 cents to close at $2.63 on Nasdaq.

* Los Angeles-based holding company Craig Corp. reported a second-quarter net loss of $1.2 million, or 11 cents per share, compared with net income of $1.3 million, or 12 cents, a year ago. Revenue rose to $11 million from $9.3 million.

* El Segundo-based wholesale computer distributor Merisel Inc. reported a second-quarter net loss of $16.9 million, or 21 cents per share, including charges and gains. That compares with a net loss of $3 million, or 4 cents, including a one-time gain, a year ago. Sales declined 27% to $924.84 million from $1.27 billion.

* Ontario-based Kaiser Ventures Inc. reported second-quarter net income of $476,000, or 7 cents per share, compared with a net loss of $26,000 a year ago. Revenue rose to $2.1 million from $1.9 million.

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