Pacific Gulf Properties Inc.: The Newport Beach...

Pacific Gulf Properties Inc.: The Newport Beach real estate investment trust reported that net income for the second quarter totaled $3.4 million, or 27 cents a share, up from net income of $652,000, or 12 cents a share, for the 1996 second quarter. Revenue was up 34% to $15.9 million from $11.9 million. For the first six months of 1997, net income climbed to $6.5 million, or 53 cents a share, from $945,000, or 18 cents a share, for the like period last year. Revenue gained 35% to $30.7 million from $22.7 million.