STANDARD PACIFIC CORP. REPORTS 2012 SECOND QUARTER RESULTS
Q2 2012 Net Income of $14.3 million, or $0.04 per diluted share
Q2 2012 Net New Orders up 45% vs. Q2 2011
2012 Second Quarter Highlights and Comparisons to the 2011 Second Quarter:
Net income of $14.3 million, or $0.04 per diluted share, vs. net loss of $10.5 million, or $0.03 per diluted share
Net new orders of 1,108, up 45%
Backlog of 1,266 homes, up 62%
157 average active selling communities, up 3%
Homebuilding revenues up 35%
Average selling price of $337 thousand, up 1%
815 new home deliveries, up 34%
Gross margin from home sales of 20.5%, compared to 17.0% (20.0%* excluding impairments in Q2 2011)
SG&A rate from home sales of 15.3%, a 350 basis point improvement
Operating cash outflows of $56.6 million, a $65.4 million improvement from $122.0 million
$131.1 million of land purchases and development costs, compared to $123.8 million
Adjusted Homebuilding EBITDA of $41.8 million*, or 15.2%* of homebuilding revenues, compared to $23.7 million*, or 11.6%* of homebuilding revenues
Homebuilding cash balance of $317 million
http://phx.corporate-ir.net/phoenix.zhtml?c=95153&p=irol-newsArticle&ID=1719153&highlight=