Kaiser Steel Resources: The reorganized successor to...

Kaiser Steel Resources: The reorganized successor to Kaiser Steel Corp. said it earned $951,423 on revenue of $1.3 million in its first quarter. The Rancho Cucamonga company said that because it was in bankruptcy proceedings during the first quarter of 1988, year-earlier results have no relevance and were not provided. The company noted that revenue from a long-term water rights transaction with the Southern California Water District and lease payments from Mine Reclamation Corp. helped the results.