Koll Real Estate Group Inc.: The Newport...

Koll Real Estate Group Inc.: The Newport Beach real estate development services company, reported 1993 profit of $14.3 million, or 17 cents a share, which included a gain of $41 million from discontinued operations, $23.6 million from debt elimination and a loss of $36 million from an accounting change. The company reported a loss of $38.4 million, or $1.32 a share, in 1992, which included a gain of $3.5 million from discontinued operations. Revenue declined 41%, to $16.7 million from $28.3 million. For the fourth quarter, the company posted a profit of $58.3 million, or 69 cents a share, contrasted with a net loss of $10.5 million, or 26 cents a share, for the 1992 fourth quarter. Revenue rose to $13.4 million from $900,000, principally reflecting the company’s sale of its La Jolla office buildings.