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Standard Pacific Corp

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BUSINESS
April 23, 1986
A continued strong demand for new homes, spurred by falling interest rates, helped Standard Pacific Corp. post net earnings of $5.7 million for the first quarter, up 97% from $2.9 million a year earlier. The Costa Mesa builder said revenues for the quarter were $47.8 million, up 10% from $43.5 million. Company officials said first-quarter new home orders averaged 50 per week, compared to a weekly average of 44 orders in the first quarter of 1985.
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BUSINESS
October 30, 2008 | Peter Y. Hong, Hong is a Times staff writer.
Irvine-based home builder Standard Pacific Corp. on Wednesday reported a $368.8-million loss for the third quarter. The loss of $2.53 a share was more than triple the loss of $119.7 million, or $1.66 a share, last year. Revenue fell 38% to $400.3 million. Standard Pacific Chairman Jeffrey V. Peterson said in a statement the company had endured "one of the worst economic and housing environments the country has faced in recent memory."
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BUSINESS
January 29, 1993 | MICHAEL FLAGG, TIMES STAFF WRITER
More than 250 union drywall workers--some from as far away as Ventura County--picketed Costa Mesa home builder Standard Pacific Corp. on Thursday for using a drywall subcontractor that hasn't signed a union contract. Since November, workers say, they have persuaded 53 subcontractors to sign the contract, which gives workers their first raise in more than 10 years. But Schetne Drywall Inc.
BUSINESS
July 31, 2008 | Peter Y. Hong, Times Staff Writer
Reeling from the ongoing real estate meltdown, Irvine home builder Standard Pacific Corp. on Wednesday reported a wider second-quarter loss of $248.2 million. The red ink, amounting to $3.82 a share, was 50% greater than last year's loss of $165.9 million, or $2.56. Revenue fell 38% to $410.6 million. "It is clear that the housing market and the broader U.S. economy remain challenged and continue to deteriorate," Standard Pacific Chairman Jeffrey V. Peterson said.
BUSINESS
October 29, 1998 | Daryl Strickland
Responding to increased operating results, Standard Pacific Corp.'s board increased the quarterly dividend 25% to 5 cents a share from 4 cents a share. The higher dividend is payable Nov. 24 to shareholders of record Nov. 10, the Costa Mesa-based home builder said.
BUSINESS
August 10, 2002 | Daryl Strickland
Irvine-based Standard Pacific Corp., one of the nation's largest home builders, completed its acquisition of closely held Westfield Homes USA Inc. Standard Pacific said it paid $56.5 million in cash and stock and assumed about $46 million in debt. Terms were initially set at $59 million in cash and stock and the assumption of $50 million in debt. Standard Pacific shares closed at $26.42 on the NYSE, up 32 cents.
BUSINESS
February 22, 1992 | JOHN O'DELL, TIMES STAFF WRITER
Standard Pacific Corp. said Friday that it intends to issue 3 million shares of common stock in a secondary offering aimed at raising funds to reduce the company's senior debt. While no price has been set for the proposed issue, Standard Pacific's stock closed Friday at $12.88 a share, down 63 cents on the New York Stock Exchange. Since Jan.
BUSINESS
May 28, 2008 | From Bloomberg News
Standard Pacific Corp., the Irvine-based home builder that has lost $1.4 billion in market value since 2005, had its biggest gain in at least 28 years after announcing Tuesday that a private equity firm would invest more than $530 million in the company. The builder's shares rose $1.07, or 48%, to $3.29. The shares earlier touched $3.78. Standard Pacific said in a statement that MatlinPatterson Global Advisers, led by Chief Executive David Matlin, would make the investment.
BUSINESS
October 26, 2007 | From Bloomberg News
Standard Pacific Corp., the worst-performing U.S. home builder stock in the last year, on Thursday reported a third-quarter net loss after writing down the value of its land. The net loss totaled $119.7 million, or $1.85 a share, compared with net income of $31 million, or 47 cents, a year earlier. Revenue fell 19% to $675.5 million. The Irvine company said new-home sales in the U.S. dropped 23% in September from a year earlier as banks including Countrywide Financial Corp.
BUSINESS
September 25, 2007 | Walter Hamilton, Times Staff Writer
new york -- Normally a company might complain when speculators drive down its stock price. But home builder Standard Pacific Corp., underscoring the housing industry's woes, is helping investors place bets against its own shares. In a deal that's so counterintuitive it almost sounds illegal -- though experts say it isn't -- the Irvine-based company said Monday that it was selling $100 million in bonds that can be converted into its stock.
BUSINESS
August 25, 2007 | From Times Wire Services
Standard Pacific Corp., a builder of homes in eight states including California and Texas, is in talks with lenders to amend its credit agreements. Banc of America Securities and JPMorgan Securities Inc. "have indicated their preliminary intent to approve" changes, Irvine-based Standard Pacific said in a regulatory filing. The housing slump is forcing some home builders to ask their banks for better terms to reduce the risk that they may default.
BUSINESS
August 7, 2007 | From Bloomberg News
Shares of Irvine-based Standard Pacific Corp. tumbled 13% on Monday on speculation that the home builder's access to credit might be reduced. Standard Pacific had said in a regulatory filing Thursday that it was in compliance with the financial requirements of its loans through the first half of 2007. But it warned that it might violate such covenants on some loans should it write down inventory or make additional investments in joint ventures.
BUSINESS
April 27, 2007 | From Times Wire Services
Regal Entertainment Group, the world's largest cinema operator, said first-quarter profit jumped on proceeds from the initial public offering of National CineMedia Inc. Net income increased to $229.1 million, or $1.46 a share, from $11.2 million, or 7 cents, a year earlier, Knoxville, Tenn.-based Regal said. Sales rose 6.8% to $625 million, beating the $598.3-million average estimate of analysts surveyed by Bloomberg. --- Broadcom Corp.
BUSINESS
February 2, 2007 | From the Associated Press
Standard Pacific Corp. said it swung to a fourth-quarter loss due to sinking demand in major housing markets nationwide that led to massive asset impairment charges and land deposit write-offs. Quarterly losses totaled $98.4 million, or $1.53 a share, compared with net income of $154.9 million, or $2.22, a year earlier. The latest quarter includes impairment and write-off charges of $2.73 a share.
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