Covington Development Group Inc. reported that net...

Covington Development Group Inc. reported that net income for the third quarter rose 21%, to $737,000 from $608,000 a year earlier. Revenue increased 31%, to $24.5 million from $18.8 million, for the comparable 1987 quarter. For the first 9 months, the Fullerton-based development company posted net income of $257,000, an 8% drop from the $278,000 reported for the same period last year. Revenue declined 3%, to $53.3 million from $55.1 million.