Tejon Ranch Net Income Jumps 27% in 2nd Quarter

Tejon Ranch Co., a Lebec-based real estate, cattle and farming concern, reported that its net income jumped 27% in the second quarter on a 5% rise in revenue.

In the three months that ended June 30, Tejon Ranch earned $543,000, up from $427,000 in net income a year before. Its revenue was $5.3 million, compared to $5.04 million in revenue in 1992’s second quarter.

Tejon Ranch’s six-month profit was $587,000, a 61% increase from $364,000 in net income a year earlier, while its revenue rose to $6.82 million from $6.72 million.

The company said that its 1993 results were helped by increases in livestock income and revenues from minerals operations. However, the results were somewhat offset by higher land-planning expenses and lower interest income. Net income for the latest six-month period also benefited from an accounting change.

Times Mirror Co., which publishes the Los Angeles Times, owns 30% of Tejon Ranch.