The Hammond Co.: The Newport Beach mortgage...

The Hammond Co.: The Newport Beach mortgage banker reported net income of $928,769 for its fiscal second quarter, ended Sept. 30, a 68% increase over $553,404 earned in last year’s second quarter. Quarterly revenue rose slightly to $6.6 million this year from $6.55 million. For its first six months, the company posted net income of $415,986, a 34% increase over $310,591 earned in the same period last year. Revenue for the period fell 3% to $11.2 million this year from $11.5 million. The second-quarter profit, spurred by increased sales of loans and reduced operating expenses, marked a return to profitability after the firm posted a $513,000 loss for its fiscal first quarter and a $1.1-million loss for its fiscal year.