Impac Reports 4th-Quarter Net Loss of $8.1 Million

Impac Mortgage Holdings Inc., Santa Ana Heights real estate investment trust, posted a net loss of $8.1 million, or 33 cents a share, for the fourth quarter, compared with a net loss of $34.8 million, or $1.70 a share, for the fourth quarter of 1997. Revenue declined 30% to $25.4 million from $36.4 million. For the year, the company lost $5.9 million, or 25 cents a share, compared with a net loss of $16 million, or 99 cents a share, for 1997. Revenue increased 25% to $150.1 million from $119.9 million.