After reporting a loss of $775,749 for...

After reporting a loss of $775,749 for its fiscal year ended March 31, 1985, The Hammond Co. is projecting a modest turnaround in net income for the first quarter of the current fiscal year. The company plans to release revenue and earning figures this week. Thomas T. Hammond, chairman and president of the Newport Beach-based mortgage banking company, said: “We estimate that net income will be about $100,000, which is about 4 cents a share.” Hammond added that strategies for a profitable fiscal 1986 include management changes and increased mortgage loan productivity by the company’s sales staff. Started in 1975, The Hammond Co. has a mortgage loan portfolio of $569 million.