ORANGE COUNTY EARNINGS

Wahlco Environmental Systems Inc.: The Santa Ana company, which designs and manufactures air pollution control and power efficiency equipment, reported a first-quarter net loss of $1.5 million, or 8 cents a share, compared to a net loss of $604,000, or 3 cents a share, for the first quarter of 1997. Revenue declined 28% to $9.2 million from $12.7 million.