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O.C. BUSINESS PLUS | ORANGE COUNTY EARNINGS

Pacific Gulf Properties Inc.

May 04, 2000

The Newport Beach real estate investment trust reported first-quarter net income of $9.3 million, or 39 cents a share, down 15% from $11 million, or 48 cents a share, recorded a year earlier. Funds from operations increased 15% to $14.4 million, or 70 cents a share, from $12.5 million, or 63 cents a share. Revenue rose 11% to $32.9 million.

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