Capital Pacific Holdings Profit Up 125% for Quarter

Newport Beach home builder Capital Pacific Holdings Inc. on Monday reported a 125% increase in profit for its fiscal third quarter.

The company, an investment and development firm with operations in California, Nevada, Colorado, Arizona and Texas, said it posted a profit of $1.8 million, or 13 cents a share, for the quarter ending Nov. 30. That compared to $812,000, or 6 cents a share, for the same period in the previous year.

For the nine months ended Nov. 30, the company recorded earnings of $6.7 million, or 48 cents a share, a 144% increase from the $2.7 million, or 20 cents a share, in the comparable period a year earlier.

Capital’s revenue for the quarter was $96 million, up 46% from $66 million for the same period in fiscal 2000. For the first three quarters of this year, it reported revenue of $286 million, a 33% increase from the $215 million it posted for the first three quarters of last year.

Shares of the company’s stock, CPH, closed Friday at $3.38, up 25 cents on the American Stock Exchange.