Standard Pacific Homes Fourth Quarter 2011 Numbers | ||
Quarter Four | Fiscal Year | |
Profit/(Loss) | $8.7 M +192.0% | ($9.3 M) -91% |
Home Deliveries | 790 +24.8% | 2,563 -4.5% |
New Orders | 625 +41.8% | 2,511 +12.6% |
Behind the Numbers:
It was as though Standard Pacific’s fourth quarter was part of a whole different year. While the company lost money for its whole year totals, it was profitable for the last quarter. Deliveries for the year as a whole were down slightly, but up promisingly in the fourth quarter with a backlog of 681 homes, up by 64% to the highest year-end backlog for the company since 2007. It was a similar pattern seen and noted by other public home builders who also have logged fourth quarters that were noticeably better than the three before. “While we believe the home building industry will face ongoing headwinds throughout 2012, I am confident that with our focus on execution at every level of our organization, we will continue to drive improved profitability despite these challenging market conditions,” said CEO Scott Stowell.
Standard Pacific Homes’ fourth quarter ended December 31.
Learn more about markets featured in this article: Los Angeles, CA.
