ORANGE COUNTY

J. M. Peters Posts 2nd-Quarter Loss: J. M. Peters Co. Inc. said it lost $12.1 million, or 87 cents a share, in its fiscal 1992 second quarter, ended Aug. 31. Peters, which specializes in luxury homes for the move-up market, posted a $451,000 net loss, or 3 cents a share, in the second quarter of its fiscal 1991. Much of the second-quarter loss came from an $8.4-million writedown of the value of the company’s inventory of homes and land. The financially troubled Newport Beach builder said second-quarter revenue of $50.5 million was down 4.1% from $52.7 million a year earlier. Only 55% of the company’s revenue in the latest quarter came from the sale of homes, however, while home sales accounted for 97% of revenue during the year-earlier quarter. For the first half, Peters lost $15.55 million, or $1.11 per share, contrasted with earnings of $1.1 million, or 8 cents a share, in the first six months of its fiscal 1991.