ORANGE COUNTY EARNINGS

Health Care Property Investors Inc.: The Newport Beach real estate investment trust, which invests in health care-related facilities, reported fourth-quarter net income of $15.5 million, or 53 cents a share, compared with net income of $15.4 million, or 54 cents a share, a year ago. Revenue increased 8% to $33.6 million from $31 million.

Net income for 1997 was up 5% to $63.5 million, or $2.21 a share, from $60.6 million, or $2.12 a share, for 1996. Net income for 1997 included a gain of $2 million from the sale of real estate properties, while net income for 1996 included $2.1 million from the early payoff of two mortgage loans that had been purchased at a discount in 1992. Revenue rose 7% to $128.5 million from $120.4 million.