This report, the fourth part of a long-range study of persistence and performance in California's community colleges, deals with the performance of the 82 percent of the 35,000 student sample who entered the California community college system in fall 1972 and completed at least one term. Sixty percent of the total sample continued beyond one term, and 22 percent completed the first term, but did not continue. The various performance measures that are analyzed in this report include course grades and other final actions (withdrawals), semester grade point averages, unit loads attempted in relation to grade point averages, and incidences of withdrawal from classes. Sources of variance in performance are examined, including first-time freshmen versus transfer students, day versus evening students, men versus women, and persisters versus students who enrolled for only the first term. Data are organized into five tables, and generally show that the records of students who discontinued after one term were not as good as those of persisters. It is possible, however, that many students who were classified as completing one term and not continuing were not attending classes at the end or failed to take final examinations, but were not recorded by the college as total withdrawals. (Author/NHM)