Pacesetter Business Properties, Newport Beach, reported a...

Pacesetter Business Properties, Newport Beach, reported a net loss of $195,000 for the first six months, contrasted with a net loss of $514,000 for the same period a year ago. Revenue nearly doubled to $8.1 million from $4.1 million for the like period in 1987. Second-quarter results were not released. During the second quarter of 1988, Pacesetter Business Properties was spun off to its shareholders in a tax-free stock distribution by its previous parent, American Pacesetter. Pacesetter Business Properties now is a separate, publicly traded company that primarily develops commercial and industrial properties.