Tejon Ranch Posts Quarterly Profit

Developer Tejon Ranch Co. reported a quarterly profit of $223,000 as business improved in its orchards and commercial properties.

Fourth-quarter profit amounted to 2 cents a share, contrasted with a loss of $114,000, or break-even, in the last quarter of 2001. The profit for 2002 was $243,000, or 2 cents a share, down 17% from $294,000, or 2 cents, in the previous year.

Revenue rose 9% in the quarter to $8.2 million and 15.5% for the year to $21.7 million

Shares of Lebec-based Tejon Ranch closed down 51 cents at $24.91 on the NYSE.

Roger Vincent