Imperial Credit Industries: The Newport Beach-based parent...

Imperial Credit Industries: The Newport Beach-based parent company of Southern Pacific Thrift & Loan Assn. said that its second-quarter profit fell by 2%, to $4.2 million, or 46 cents a share, from $4.3 million, or 56 cents a share, a year earlier. Revenue for the second quarter rose 13%, to $15.4 million from $13.6 million. The company blamed the lower profit figure on expenses generated by a new loan program and an ongoing expansion along the East Coast and in Colorado. For the first half of the year, Imperial reported a $6-million profit, equal to 65 cents a share. In the first six months of 1992, the company’s profit was $6.1 million, or 86 cents a share. A large secondary stock offering in the second quarter accounts for the dilution of the per-share profit.