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La Jolla Based Company Pico Suffers Loss
PICO Suffers Second Quarter Loss Pico Holdings (Nasdaq: PICO), a company based in La Jolla, reported a second quarter loss, in spite of an expanding portfolio. The company is in the business of acquiring, operating, or financing companies with low value to raise the companies’ net worth. Currently, the company has in its control insurance, water, and real estate companies, and they also have some interests in small businesses.
Pico’s reported second quarter losses came to nearly $2.5 million, about 12 cents a share for stockholders, compared with last year’s second quarter gain of just over $28 million, about $1.50 a share for stockholders.
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