WASHINGTON (dpa-AFX) - Standard Pacific Corp. (SPF) Thursday reported a profit for the second quarter compared to a loss last year, due mainly to higher revenues and improved margins.
The Irvine, California-based company's second-quarter net profit available to common stockholders was $8.12 million or $0.04 per share, compared to a net loss of $5.97 million or $0.03 per share last year. On average, 10 analysts polled by Thomson Reuters expected the company to earn $0.04 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew to $274.87 million from $204.35 million in the prior-year quarter. Eight analysts had a consensus revenue estimate of $283.87 million for the quarter.
For the quarter, gross margin increased to 20.5 percent from 17.0 percent in the year-ago quarter.
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