Pacesetter Business Properties: The Newport Beach industrial...

Pacesetter Business Properties: The Newport Beach industrial and commercial property company reported a 1991 net loss of $1.98 million, or $1.28 per share, compared with a net loss of $4.3 million, or $2.80 per share, in 1990. Revenue of $6.5 million was down 23.5% from $8.54 million a year earlier. The company said it slashed its losses by transferring a number of rental properties to its lenders. For the fourth quarter, Pacesetter reported a loss of $601,000, or 39 cents a share, compared to a loss of $2.4 million, or $1.53 a share a year earlier. Revenue of $1.3 million for the final period was down 19% from $1.6 million.