RESIDENTIAL REAL ESTATE
Compiled by John O'Dell, Times staff writer
So-So News: Presley Cos. issued its first quarterly-earnings report since going public last month and the news--as the company warned in its offering prospectus--wasn’t great.
The Newport Beach-based home builder reported third-quarter earnings of $1.13 million, or 9 cents a share, up 4.5% from $1.08 million a year earlier.
Revenue was $31.4 million, off 44% from $56 million in the third quarter of 1990.
Nine-month earnings were $2.5 million, or 20 cents a share, down 84% from $15.8 million, or $1.27 a share, a year earlier.
Still, the company actually made money, which is more than a lot of builders can say.
