Pacesetter Homes Inc.: The Newport Beach residential...

Pacesetter Homes Inc.: The Newport Beach residential real estate company reported a net loss of $518,000, or 34 cents a share, an improvement on last year’s second-quarter loss of $2.4 million, or $1.58 a share. Quarterly revenue fell to $3.3 million this year from $10.1 million last year. The company posted net income of $2.8 million, or $1.87 a share, for the first half, contrasted with a net loss of $3.8 million, or $2.50 a share, for the first six months last year. Revenue declined $33% to $12.8 million for the period from $19 million last year.