Magma Power Co. reported $1.8 million in...

Magma Power Co. reported $1.8 million in net income and revenue that rose 60%, to $5.3 million, for the second quarter, which ended June 30. It reported a $353,000 net loss during the same quarter a year ago. The San Diego-based geothermal power production company reported a $1.8 million net profit and revenue that rose 55%, to $9 million, for the first half of the year. It reported a $5.8 million net loss for the first half of 1986.

Magma’s second-quarter profit included a $463,000 extraordinary gain from the utilization of tax loss carry forwards.