California Coastal Communities Inc.

The Newport Beach residential land development and home building company, formerly Koll Real Estate Group, reported a net loss of $1 million, or 8 cents a share, for the third quarter, primarily reflecting general and administrative expenses. The company said that because of a recapitalization completed Sept. 2, 1997, year-to-year results are not comparable. No revenue was recorded for the third quarter of 1998. The company said it does not expect to report revenue until the third quarter of 1999 when home sales start in phase two of its Rancho San Pasqual project in Escondido.