Pacesetter Business Properties: The Newport Beach company...

Pacesetter Business Properties: The Newport Beach company reported a net loss of $544,000, or 35 cents per share, on revenue of $2.7 million for the third quarter. For the 1990 period, the company posted a net loss of $581,000, or 38 cents per share, on revenue of $2.6 million. Pacesetter said it transferred ownership of three operating properties to the lenders holding loans secured by those properties, which resulted in a substantial reduction in net rental losses for the three months ended Sept. 30 compared to the same period for 1990. For the nine-month period, a net loss of $1.4 million, or 89 cents per share, was recorded, compared to a net loss of $2 million, or $1.27 a share, a year ago. Revenue declined 23%, to $5.3 million from $6.9 million.