Net Income $337,000 for American Pacesetter

American Pacesetter reported third quarter net income of $337,000 compared with a net loss of $3.4 million for the comparable period a year ago.

Included in the company’s results is a $284,000 tax credit. In the third quarter of last year, the company had a tax credit of $74,000.

The diversified Newport Beach company had third quarter revenue of $23.7 million compared to revenue of $27.2 million for the third quarter of 1984.

For the nine months, American Pacesetter reported net income of $735,000 compared to a net loss of $2.7 million. Revenue for the period was $73.7 million, compared to $85.8 million a year ago. Nine-month results include a tax credit of $654,000. For the same period last year, the company had a tax credit of $324,000.

In addition to building houses and commercial and industrial projects, American Pacesetter makes electronic equipment and operates a mortgage banking company and a savings and loan association.