Koll’s Revenue Jumps With Sale of Bolsa Chica Lowlands
- Share via
NEWPORT BEACH — Koll Real Estate Group Inc. reported Wednesday that it narrowed its losses in the first quarter, while revenue surged, primarily as a result of the real estate developer’s sale of the Bolsa Chica lowlands in February.
The company posted a first-quarter loss of $4.9 million, or 10 cents a share, which included $3.1 million of nonrecurring income, primarily from the settlement of an outstanding contractual claim and the sale of a minority interest in a privately held company. The company lost $7.9 million, or 17 cents a share, for the same three months last year.
Revenue rose to $30.9 million from $2.7 million, as the company sold the Bolsa Chica lowlands for $25 million.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
