Red Ink for Quarter at NuOasis Resorts

NuOasis Resorts Inc., the Newport Beach holding company with interests in gaming, food manufacturing and commercial real estate said it lost $1.4 million, or 3 cents a share, for the second fiscal quarter, compared with a year-earlier net loss of $4.3 million, or 10 cents a share.

Revenue for the quarter ended Dec. 31 dropped 45% to $197,520 from $360,775. The company said food revenue for the quarter was down 51% as co-packing agreements expired at the company’s subsidiary, Fantastic Foods International Inc.

For the first half of fiscal 1998, the company lost $1.9 million, or 4 cents a share, compared with a net loss of $5.5 million, or 12 cents a share, for the first half of the prior fiscal year. Revenue fell 37% to $448,569 from $712,146.