Standard Pacific Homes Fourth Quarter 2012 Numbers
$486.9 M +3,075.7%
$531.4 M +3,337%
Behind the Numbers:
Standard Pacific Homes didn’t just make a profit in 2012; it made a strong profit, especially compared to the loss it logged in 2011. An improvement in closings by nearly a third, with a 4% higher average sales price, helped boost margins. And the company did more with less, selling 2.2 homes on average from each of its communities in the fourth quarter compared to 1.3 in the same quarter of 2011, a necessity since its community count fell by 6% on average for the year. The company has been buying land to boost its community count, spending more than half a billion dollars on land in 2012. That brought 9,344 new home sites onto the books. And the near future is looking good for Stan Pac, CEO Scott Stowel, said while discussing the earnings. “With our backlog up 106% year-over-year and the solid demand we have experienced during the first month of 2013, we are off to a good start on what we expect to be a strong 2013.”
Standard Pacific Homes’ fiscal year ends December 31.