J.M. Peters Co. Inc.: The Newport Beach...

J.M. Peters Co. Inc.: The Newport Beach home builder reported net income of $356,000, or 2 cents a share, for its second fiscal quarter, which ended Aug. 31. The profit is a turnaround from last year’s second-quarter loss of $1.6 million, or 11 cents per share. Total sales for the quarter grew fourfold to $33.3 million from $8.3 million last year. For the first six months, the company earned $4.3 million, or 29 cents a share, compared with last year’s loss of $3.5 million, or 25 cents a share, for the same period. Revenue for the first six months soared to $66 million from $12.3 million last year.