The Presley Cos.: The Newport Beach home...

The Presley Cos.: The Newport Beach home builder reported profit of $152,000 for 1996, contrasted with a net loss of $37.1 million, or 71 cents a share, for 1995. The net loss for the previous year included charges of $26.2 million from reducing the value of real estate assets and loss on real estate assets, as well as an extraordinary gain of $2.7 million from retiring debt. Sales rose 12% to $319 million from $285.5 million. Fourth-quarter profit totaled $1.4 million, or 3 cents a share, contrasted with a net loss of $24.5 million, or 47 cents a share, for the 1995 fourth quarter. Sales grew 5% to $96.2 million from $91.7 million.