CALIFORNIA | LOCAL
April 8, 1998
Fourteen more homeowners filed suit Tuesday against the developer and builder of a Laguna Niguel neighborhood where four homes have tumbled down a hillside in recent weeks, attorneys said. A dozen other homeowners already have sued Hon Development Co. and J.M. Peters Co. Inc., alleging emotional distress and lost home values, according to the suit. The homes were built in the 1980s and had sold for about half a million dollars, said Ken Kasdan, who represents the owners.
September 14, 1993
J.M. Peters Co. Inc., the Newport Beach home builder, posted a net loss of $1.6 million, or 11 cents a share, for the fiscal 1994 second quarter, compared with a net loss of $79.3 million, or $5.67 a share, for the corresponding period last fiscal year. Revenue for the quarter ended Aug. 31 dropped to $8.3 million from $37.5 million. The first-half net loss totaled $3.5 million, or 25 cents a share, compared with $81.6 million, or $5.83 a share, for the first six months a year ago.
January 27, 1989 |
Speaking of Daum-Johnstown, its troubled parent--Dallas real estate investor Southmark Corp.--is in the news again. The company still owes a whopping $2 billion after going on a spending spree in recent years. Many company watchers suspect that Southmark may soon start selling some of its jewels, like J.M. Peters Co. Inc.--the immensely profitable Newport Beach home builder of which Southmark is majority owner--and perhaps even less stellar performers such as Los Angeles-based Daum-Johnstown.
September 9, 1989 |
J.M. Peters Co. Inc., the Newport Beach home builder, said profits dropped to $3.5 million in the second quarter on housing sales of $56.6 million, compared to $7.3 million in profits on $86.1 million in sales last year. The lower earnings disappointed stock analysts, who had projected profits of as much 75 cents a share earlier this year. That was far higher than the 25 cents a share the company actually earned in its fiscal second quarter, which ended Aug. 31.
June 13, 1993
J.M. Peters Co. Inc.: The Newport Beach home builder reported a loss of $84.5 million, or $6.05 a share, for its latest fiscal year. That compared to a loss of $57.8 million, or $4.13 a share, for the previous 12 months. Revenue for the fiscal year ended Feb. 28 declined 59% to $75.7 million from $184.9 million. Much of the loss came from write-downs of properties that the company had bought at the height of late 1980s real estate boom.
September 28, 1991 |
J. M. Peters Posts 2nd-Quarter Loss: J. M. Peters Co. Inc. said it lost $12.1 million, or 87 cents a share, in its fiscal 1992 second quarter, ended Aug. 31. Peters, which specializes in luxury homes for the move-up market, posted a $451,000 net loss, or 3 cents a share, in the second quarter of its fiscal 1991. Much of the second-quarter loss came from an $8.4-million writedown of the value of the company's inventory of homes and land.