Pacific Southwest Reports Quarterly Loss
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Pacific Southwest Corp. reported a net loss of $257,253 in its fiscal second quarter that ended Jan. 31 on a 16% increase in revenue to $683,026. A year earlier, the Northridge-based real estate, mortgage banking and financial services company earned $3,098 on $588,025 in revenue.
For the six months that ended Jan. 31, Pacific Southwest lost $259,938, contrasted with a profit of $51,726 a year earlier. Its six-month revenue rose 19% to $1.45 million from $1.22 million.
The company said the losses reflect expenses involved with an expansion of the mortgage banking business.
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