California Coastal Communities Inc.: The Irvine residential...

California Coastal Communities Inc.: The Irvine residential land development and home building company posted second quarter net income of $1.1 million, or 11 cents a share, contrasted with a net loss of $500,000, or 5 cents a share, for the same quarter last year. Revenue totaled $7.5 million, reflecting delivery of 21 homes in the company’s Escondido project. No revenue was recorded for the 1999 period.