Covington Development Group Inc.: The Fullerton residential...

Covington Development Group Inc.: The Fullerton residential development company said it lost $665,000, or 5 cents a share, for the third quarter. That compared to a loss of $1.2 million, or 9 cents a share, a year earlier. Revenue dropped to $5.5 million from $12 million. Included in the results for the 1992 third quarter is an extraordinary gain of $624,000 from a property transfer. For the first nine months of 1992, the company lost $2.7 million, compared to a loss of $533,000 for the first nine months of 1991. Nine-month revenue declined 41% to $23.8 million from $40.1 million. Included in this year’s nine-month results was an extraordinary gain of $688,000 from the repayment of a note.