The Hammond Co.: The Newport Beach mortgage...
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The Hammond Co.: The Newport Beach mortgage banking company lost $84,995 for the third fiscal quarter, compared with a year-earlier loss of $529,754. Revenue for the quarter ended Dec. 31 declined 4%, to $4.6 million from $4.8 million. Net income for the first nine months totaled $863,973, which included a gain of $546,000 from an accounting change. For the like period in 1988, the company lost $219,163. Revenue dropped 4%, to $15.8 million from $16.3 million.
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