DELRAY BEACH, FL-Oriole Homes Corp. cut its second-quarter net losses by about 24%, while posting a 72% increase in total revenue.

The Delray Beach-based developer of single-family and multifamily homes primarily attributed the revenue gain to sales successes at the Vizcaya project.

About a year ago, the homebuilder acquired the mixed-used residential project in Delray Beach. The project added 156 homes, valued at $30.6 million, to a total backlog of 623 total homes, valued at $133.2 million, as of the three months ended June 30.

The company reported a second-quarter net loss of $1.27 million, or 27 cents a share, on total revenue of $22.7 million, compared with a net loss of $1.58 million, or 34 cents a share, on total revenue of $12.46 million for the same period in 2000.

Six-month net losses totaled about $2 million, or 43 cents a share, on total revenue of $53.2 million. That compares with a net loss of $2.38 million, or 51 cents a share, on total revenue of $30.4 million for the same period in 2000.

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