NAB Asset Corp.: The Irvine company, which...
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NAB Asset Corp.: The Irvine company, which owns a majority interest in Dallas-based subsidiaries Mortgage Portfolio Services and Nafco Inc., posted net earnings for the second quarter of $1.5 million, or 29 cents a share, including a nonrecurring gain of $1.3 million from the sale of an 80%-owned subsidiary. Revenue totaled $2.7 million.
The company said results for the quarter ending June 30, 1997, are not comparable to the year-earlier quarter because the company’s previous business consisted of the acquisition, ownership, management and disposition of real estate and nonresidential commercial real estate loans.
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