August 12, 1991 |
Nature of Business: Developer and builder of higher-priced single-family homes. Employees Total: 115 Orange County: 92 Stock Designation: Listed on American Stock Exchange as "Peters"; Ticker Symbol: "JMP" Friday's Stock Close: $2.25 Change: -$0.25 Analyst review: "The Resolution Trust Corp. is looking to sell J.M. Peters, but don't anticipate a sale for at least six months.
February 13, 1988 |
Newport Beach home builder J. M. Peters Co. will be sold for the second time in less than three years, this time to MDC Holdings Inc. of Denver. MDC is paying $100 million in "first mortgage receivables" for Peters, almost five times the $21 million that Dallas-based Southmark paid to acquire the firm in 1985.
September 19, 1987
J.M. Peters Co. Inc., a major Southern California home building firm based in Newport Beach, Friday said it was starting its previously announced initial public offering to raise $10.5 million. Peters is selling 12.7% of its common stock--or 1.75 million shares--at $6 per share, giving the company a market value of almost $83 million. Southmark Corp., a Dallas-based real estate and financial services firm, bought J.M. Peters last year for about $22 million and will retain 87.
December 17, 1993
J.M. Peters Co. Inc., a major regional home builder, said that earnings in its fiscal 1994 third quarter tripled to $6 million, with much of the increase due to a onetime gain of $4.4 million from the restructuring of a project financing agreement. Quarterly sales increased 58%, to $37.3 million from $23.5 million a year ago, as J.M. Peters completed 165 homes. Operating profit for the quarter climbed to $1.6 million, or 11 cents a share, from the year-earlier $200,000, or 1 cent a share.
May 31, 1990 |
Apparently moving to protect his interest in the company he founded, sold and is now trying to buy back, developer James M. Peters has signed a one-year extension of his employment agreement with J. M. Peters Co., officials of the large Southland residential development firm said Wednesday. The company said Peters' new agreement calls for him to remain as chairman and chief executive through Feb. 28, 1991.
December 18, 1991 |
J.M. Peters Co. Inc., its faltering performance bolstered by a huge cut in its federal income tax bill, Thursday reported third-quarter profit of $8.8 million, or 63 cents a share, compared to a year-earlier net loss of $7.1 million, or 51 cents a share. But the builder of upscale homes posted an operating loss of $5.1 million for the quarter ended Nov. 30, compared to a loss of $11.5 million for the 1990 quarter. Sales plunged 41% to $23.5 million from $40 million.