Standard Pacific Q2 Profit Matches Estimates; Home Sale Revenues Up 17%

(RTTNews) - Standard Pacific Corp. (SPF) reported second quarter net income to stockholders of $43.3 million compared to $42.9 million, a year ago. Earnings per share was $0.14, flat with last year. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.14 for the quarter. Analysts' estimates typically exclude special items.

Revenues from home sales increased 17%, to $694.7 million, from prior year period. Total revenues were $699.6 million compared to $592.5 million. Analysts expected revenue of $668.10 million for the quarter.

Standard Pacific said the "merger of equals," with Ryland is currently expected to close in early fall 2015.