J.M. Peters Co. reported net income of...

J.M. Peters Co. reported net income of $8.5 million for the third quarter of its 1989 fiscal year, more than double the $3.8 million reported for the same period a year earlier. The Newport Beach home-builder’s revenue for the 3 months ended Nov. 30 rose 40% to $90.5 million from $64.5 million. For the first 9 months of the fiscal year, J.M. Peters reported net income of $23.1 million, nearly four times the $6.3 million posted during the same period a year earlier. Revenue for the 9 months nearly doubled to $269.4 million from $140 million in the previous year. “The company’s third-quarter results continue to evidence strong market position within an outstanding Southern California economic environment,” James M. Peters, chairman, president and chief executive, said in a statement.