Pacific Southwest Profits Rise 3% for 3rd Quarter

Pacific Southwest, a Northridge company involved in land investments, mortgage banking and equipment leasing, said its fiscal third-quarter profit edged up 3% from a year earlier on a 25% gain in revenue.

In the three months that ended April 30, Pacific Southwest’s net income totaled $57,402, or 3 cents a share, up from $55,514, or 3 cents a share, a year earlier. Per-share earnings were unchanged despite the small increase in total net income because the company had 19% more shares outstanding in the latest quarter.

Third-quarter revenue rose to $767,868 from $637,027.

For the first nine months of its fiscal year, Pacific Southwest’s profit more than doubled to $564,937, or 28 cents a share, from $219,728, or 13 cents a share, a year earlier. Nine-month revenue rose to $3.04 million from $1.60 million.