Pacesetter Homes Inc. of Newport Beach reported...

Pacesetter Homes Inc. of Newport Beach reported a profit of $212,000 on revenue of $9.9 million for the first quarter. It had earnings of $450,000 on revenue of $18 million a year earlier. During the second quarter of 1988, Pacesetter Homes was separated from its former parent company, American Pacesetter, in a corporate reorganization.