ORANGE COUNTY EARNINGS
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Standard Pacific Corp.: The Costa Mesa home builder reported net income of $10.4 million, or 34 cents a share, up 44% from $7.2 million, or 24 cents a share, a year ago. Revenue advanced 10% to $194.1 million from $177.2 million.
The company said it had a backlog of 1,556 presold homes entering the fourth quarter. The value represents $501 million in revenue, more than double the backlog value entering the fourth quarter a year ago. The backlog includes 400 presold homes from the company’s Arizona operation, with an estimated sales value of $63 million.
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