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January 23, 1992 | GREGORY CROUCH, TIMES STAFF WRITER
Standard Pacific Corp., a major Southern California home builder, said Wednesday that its 1991 earnings fell 77% to $11 million because of a crippling slowdown in housing sales. The Costa Mesa company reported profits of $10.95 million on revenue of $299 million for the year compared to a $48.4-million profit on revenue of $383 million in 1990. Standard Pacific earnings would have been even less except for a strong performance by its savings and loan, Standard Pacific Savings in Newport Beach.
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BUSINESS
January 3, 1992 | John O'Dell, Times staff writer
Rebirth of a Corporation: Standard Pacific Corp., which used to be Standard Pacific L.P., said that its conversion to a corporation from a limited partnership was completed as the clock struck midnight on Dec. 31. What it means is that former Standard Pacific Limited Partnership investors are now Standard Pacific shareholders. The company, which had been a stock company until December, 1986, went back to that form of ownership to make it easier to raise funds, according to Chairman Arthur E.
BUSINESS
January 3, 1992 | John O'Dell, Times staff writer
Rebirth of a Corporation: Standard Pacific Corp., which used to be Standard Pacific L.P., said that its conversion to a corporation from a limited partnership was completed as the clock struck midnight on Dec. 31. What it means is that former Standard Pacific Limited Partnership investors are now Standard Pacific shareholders. The company, which had been a stock company until December, 1986, went back to that form of ownership to make it easier to raise funds, according to Chairman Arthur E.
BUSINESS
July 18, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Directors of Standard Pacific L.P. on Wednesday gave the go-ahead to a management plan to convert the home builder back to a publicly traded company. The Costa Mesa construction and development company has operated as a limited partnership since December, 1986. That change was made to avoid double taxation of profits as corporate income and again as individual dividend payments, company officials said.
BUSINESS
April 18, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Standard Pacific L.P., continuing like most home builders to be buffeted by slow sales, said Wednesday that earnings for the first quarter fell about 85% to $2.7 million from $18.7 million a year earlier. Revenue fell 28% to $71.3 million from $99.2 million. Standard Pacific officials said in a recent interview that the steep drop in earnings was prompted largely by price cuts and increased marketing costs as the company intensified its efforts to reach prospective buyers.
BUSINESS
January 24, 1990 | JOHN O'DELL, TIMES STAFF WRITER
Standard Pacific L.P. said Tuesday that its 1989 earnings hit a record $106.3 million, up 41% from $75.4 million in 1988. The home builder's revenue for the year, however, dropped 1.2% to $486.4 million from $492.5 million. Standard Pacific sold 1,443 homes in 1989, down 17.8% from 1,756 units in 1988, company spokeswoman April J. Morris said.
BUSINESS
September 12, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Dale Dowers and Hadi Makarechian are starting a home-building company in Orange County--in the midst of a two-year industry slump that has dozens of established builders on the verge of collapse. You may ask: Are these men crazy? Not likely, Dowers says with a smile. The new company, Capital Pacific Homes Inc., believes it has a secret weapon: money.
BUSINESS
October 17, 1991 | JAMES S. GRANELLI, TIMES STAFF WRITER
Standard Pacific L.P., suffering the effects of the deteriorated market for new home sales in California, saw its earnings plummet 88% and its revenue fall 41% for the third quarter. The Costa Mesa home builder earned $1.1 million, or 4 cents per limited partnership unit, on revenue of $53 million, down dramatically from last year's third-quarter net income of $9.2 million, or 34 cents per unit, on revenue of $90.1 million.
BUSINESS
September 12, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Dale Dowers and Hadi Makarechian are starting a home-building company in Orange County--in the midst of a two-year industry slump that has dozens of established builders on the verge of collapse. You may ask: Are these men crazy? Not likely, Dowers says with a smile. The new company, Capital Pacific Homes Inc., believes it has a secret weapon: money.
BUSINESS
July 18, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Directors of Standard Pacific L.P. on Wednesday gave the go-ahead to a management plan to convert the home builder back to a publicly traded company. The Costa Mesa construction and development company has operated as a limited partnership since December, 1986. That change was made to avoid double taxation of profits as corporate income and again as individual dividend payments, company officials said.
BUSINESS
April 18, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Standard Pacific L.P., continuing like most home builders to be buffeted by slow sales, said Wednesday that earnings for the first quarter fell about 85% to $2.7 million from $18.7 million a year earlier. Revenue fell 28% to $71.3 million from $99.2 million. Standard Pacific officials said in a recent interview that the steep drop in earnings was prompted largely by price cuts and increased marketing costs as the company intensified its efforts to reach prospective buyers.
BUSINESS
March 17, 1991 | JOHN O'DELL, TIMES STAFF WRITER
Builder James M. Peters said in late 1988 that the luxury homes his company built would always be an important part of the Orange County housing market. Other builders listened to him closely--perhaps too closely. Because by mid-1989, with dozens of other builders jumping on the big-house bandwagon, prospective buyers looked at a market saturated with homes carrying hefty price tags of $400,000 and more, and put their checkbooks away.
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