Koll Management Results ‘Better Than Expected’ : Performance: Newport Beach firm says second-quarter earnings rose 21% and revenue jumped 50%.

Koll Management Services Inc. said Monday that its revenue increased 50% for the latest quarter and that earnings were up 21%.

The Newport Beach property management company reported revenue of $14.7 million for its fiscal second quarter ended Sept. 30. That contrasted with revenue of $9.8 million for the same period a year earlier. Profit was $689,000, or 21 cents a share, up from earnings of $570,000, or 17 cents a share, a year earlier.

“Actually, the results are a little better than what we expected,” said Mark Matheson, an analyst with Crowell, Weedon & Co., a regional brokerage in Los Angeles.

The company’s stock price, however, was lower in light trading, falling $1 a share Monday to close at $9.50 on the Nasdaq market. Matheson said that decline was not significant given that only a few shares changed hands.

Ray Wirta, chief executive officer of Koll Management, said: “I think people are just watching to see if we can keep up these numbers for a few quarters.” The company, which manages about 100 million square feet of space across the nation, is the publicly traded arm of Koll Co.

Wirta cited low rents and the depressed commercial real estate market as reasons for the income not keeping pace with revenue for the latest quarter.

Another company executive, President William Rothe, noted that part of the revenue increase was the result of the purchase earlier this year of Rubloff Inc., a property management company based in Chicago.

For the first six months of fiscal 1994, the company reported revenue of $25 million, a 32% increase from $18.9 million for the first six months of fiscal 1993. Six-month profit was $1.3 million, or 39 cents a share, contrasted with $1.3 million, or 41 cents a share, for the period a year earlier.