J.M. Peters Co.: The Newport Beach home...

J.M. Peters Co.: The Newport Beach home builder reported a loss of $771,000, or 5 cents a share, for its third fiscal quarter ended Nov. 30. That contrasted with a profit of $6.1 million, or 40 cents a share, for the same period a year earlier, which included a one-time gain of $4.3 million related to the resolution of project financing. The loss for the latest quarter resulted from a $3.2 million jury verdict involving sales activities in 1989 and 1990, the company said. Revenue totaled $45.9 million, up nearly 23% from $37.3 million for the same period a year earlier. For the first nine months of its fiscal year, the company posted a profit of $3.5 million, or 24 cents a share, up from earnings of $2.6 million, or 18 cents a share, for the same period a year earlier. Nine-month revenue more than doubled to $111.9 million from $49.6 million.