Standard Pacific Earnings: Shareholders Satisfied, Stock Sizzles Up

Standard Pacific Corp. (NYSE:SPF) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.61%.

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Standard Pacific Corp. Earnings Cheat Sheet

Results: Net income increased 114.94% to $32.95 million (8 cents per diluted share) in the quarter versus a net gain of $15.33 million in the year-earlier quarter.

Revenue: Rose 41.39% to $419.84 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Standard Pacific Corp. reported adjusted net income of 8 cents per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $372.87 million.

Key Stats:

Revenue increased 29.68% from $323.76 million in the previous quarter. Net income increased 51.77% from $21.71 million in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.05 and has not changed. For the current year, the average estimate has moved up from a profit of $0.18 to a profit of $0.19 over the last ninety days.

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(Company fundamentals provided by Xignite Financials.)