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

Hammond Co.: The Newport Beach mortgage banking firm reported a net loss of $301,946, or 24 cents per share, for the first fiscal quarter ended June 30. For the previous first quarter, the company’s loss was $534,174, or 42 cents per share. Revenue rose 5%, to $4 million from $3.8 million. The company said it typically reports first-quarter losses because of minimal sales of loan servicing rights during the period.