ORANGE COUNTY EARNINGS

California Coastal Communities Inc.: The Newport Beach developer posted net income of $6.3 million, or 53 cents a share, for the second quarter, which included a $7.2-million after-tax gain from the sale of its commercial development business to a private company headed by developer Donald M. Koll. For the 1997 second quarter, the company had a net loss of $9.5 million primarily due to noncash interest expense of $6.4 million. Revenue dropped to $1.7 million from $4.5 million.

For the first half, the company, developer of the controversial housing project at the Bolsa Chica wetlands near Huntington Beach, earned $6.3 million, or 53 cents a share, contrasted with a year-earlier net loss of $14.4 million. Revenue totaled $2.1 million, down from $33.4 million for the 1997 first half, which included the sale of the Bolsa Chica lowlands for $25 million.