Presley Cos.: The Newport Beach home-builder posted a profit of $6 million, or 11 cents a share, for 1994. That contrasted with a loss of $64.3 million, or $3.47 a share, for 1993. Sales were down slightly to $270.2 million from $271.2 million. Profit for the fourth quarter totaled $1.5 million, or 3 cents a share, contrasted with a loss of $29.4 million, or $1.59 a share, for the same period a year earlier. Three-month sales declined 11% to $68.4 million from $76.5 million. The company said the results are based on the retroactive effect, as of Jan. 1, 1994, of a capital restructuring and reorganization, which reduced the book value of the company's real estate assets and liabilities and lowered cost of sales and interest expense for 1994.