Pacific Gulf Properties Sees 3rd-Quarter Revenue Climb 41%

Pacific Gulf Properties Inc. reported that net income more than tripled in the third quarter on higher revenue.

The real estate investment trust said net income rose to $1.4 million, or 19 cents a share, from $366,000, or 8 cents a share, a year ago. Revenue advanced 41% to $13.4 million from $9.5 million. Net income for the first nine months totaled $2.3 million, or 39 cents a share, 64% higher than the $1.4 million, or 30 cents a share, posted for the like 1995 period. Revenue was up 37% to $36.1 million from $26.4 million.