Imperial Credit Industries Inc.: The Newport Beach...

Imperial Credit Industries Inc.: The Newport Beach financial services company said profit for the second quarter rose to $1.8 million, or 18 cents a share, from $759,631, or 7 cents a share, for the 1994 second quarter. Revenue dropped 9% to $17.6 million from $19.3 million. Net income for the first half, after a revision of its first quarter results, was $3.8 million, or 37 cents a share, up from the $1.1 million, or 11 cents a share, recorded for the first half last year. Revenue declined 5% to $17.6 million from $19.3 million. The company said that it revised its previously reported earnings for the first quarter because of an accounting change. Net income was revised to $2 million, or 19 cents a share, from the previously reported $1 million, or 10 cents a share.