Covington Technologies Reports Net Loss

With its residential development projects slowed dramatically, Covington Technologies Friday reported a second quarter net loss of $569,000 compared with net income of $380,000 during the year-ago period.

For the quarter ended June 30, the Fullerton-based home builder reported revenues dropped nearly 27%, to $11.5 million from $15.4 million during the same 1984 period.

For the six-month period, the company reported a loss of $588,000 compared with net income of $674,000 during the first six months of 1984. For the six months, revenues from continuing operations fell more than 28%, to $20.2 million from $28.2 million.