Standard-Pacific Sets Record Sales, Earnings

Brisk sales and improved profit margins helped Standard-Pacific Corp. post record sales and earnings for the nine months.

The Costa Mesa-based house construction company reported nine-month net income of $12.2 million compared with $7.8 million for the same period of 1984. Sales were $174.8 million compared with $136.1 million.

The company said third quarter net income was $5.1 million, compared with $3.3 million for the same period a year earlier. Third quarter sales were $65.3 million compared with $49.6 million.

Standard-Pacific said it expects the “very strong growth” in net income and revenue to continue in the fourth quarter. “Based on current mortgage interest rates, the outlook for next year also is very positive,” said Arthur Svendsen, chairman and chief executive.