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Profit rises for LV mortgage firm

Friday, May 5, 2000 | 11:58 a.m.

Sunderland Corp. of Las Vegas reported first quarter net income of $839,000 or 12 cents per share, compared with $451,000 or 8 cents per share one year earlier.

The company also reported first quarter revenues of $3.3 million, up 60 percent from first quarter 1999 revenue of $2 million.

Through its subsidiary Capsource Inc., which includes Del Mar Mortgage, Sunderland finances residential and commercial construction as well as land acquisition and development.

Shares in Sunderland began trading on the Nasdaq Small Cap market last month. The company recently merged with Las Vegas-based accounting and consulting firm L.L. Bradford & Co., and acquired broker-dealer DM Financial Services Inc.

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