Itel Corp.’s second-quarter profit fell 10% from...

Itel Corp.’s second-quarter profit fell 10% from last year to $8.6 million. Revenue totaled $392.8 million, up 22%. The San Francisco company, which leases cargo containers and rail cars, said results reflect continued improvement in core businesses and three major container and rail car purchases completed in 1987 and early 1988. The company also notes that if substantial pre-reorganization tax loss carryforwards are included in the results, earnings are $13.2 million, a gain of 38% over last year.