J.M. Peters Co. Inc.: The Newport Beach...

J.M. Peters Co. Inc.: The Newport Beach residential developer recorded a first-quarter net loss of $273,000, or 2 cents a share. That contrasts with a profit of $3.9 million, or 26 cents a share, for the first quarter of fiscal 1995, which included an extraordinary gain of $3.3 million related to project financing. Revenue for the quarter ended May 31 rose 1% to $33.1 million from $32.8 million. The company attributed its first quarter loss to a change in the mix of closings of its various housing types and to record rainfall that delayed the sales of some of its homes in California.