Pacesetter Business Properties: The Newport Beach commercial...

Pacesetter Business Properties: The Newport Beach commercial and industrial developer reported a net loss of $559,000 for the first quarter, compared to a net loss of $546,000 for the like 1989 period. Revenue remained at $2.1 million. The pretax losses for the company included depreciation expense of $595,000 and $553,000 for the quarters ended March 31, 1990, and March 31, 1989, respectively, on rental properties held by the company for investment.