ORANGE COUNTY EARNINGS

Impac Mortgage Holdings Inc.: The Santa Ana Heights mortgage investment company reported that second-quarter earnings more than doubled to $11.7 million, or 49 cents a share, from $5.6 million, or 38 cents a share, in the 1997 second quarter. Revenue increased 80% to $46.4 million from $25.8 million. Net income for the first half nearly doubled, to $22.8 million, or 97 cents a share, from $11.5 million, or 80 cents a share, a year ago. Revenue was up 74% to $88.3 million from $50.7 million.