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Business Briefing / Real Estate

Standard Pacific posts smaller loss

May 08, 2009|Times Wire Reports

Irvine builder Standard Pacific Corp. said its first-quarter net loss narrowed to $49.5 million, or 21 cents a share, from $216.4 million, or $3, a year earlier. Revenue declined 40% to $209.5 million. Standard Pacific had $30.8 million of impairments, including $14.1 million for firing 380 workers. Its shares fell 3 cents to $2.23.

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