Pacific Gulf Sees Net Income Rise

Pacific Gulf Properties Inc., a Newport Beach real estate investment trust, reported net income of $8.1 million, or 40 cents a share, for the second quarter, 27% higher than the $6.4 million, or 32 cents a share, for the year-earlier period. Funds from operations increased 16% to $13.1 million, or 66 cents a share, from $11.3 million, or 57 cents a share. Revenue rose 11% to $30.9 million.