Standard Pacific’s quarterly loss widens

BOSTON (MarketWatch) — Standard Pacific Corp. on Monday reported a quarterly loss of $216.4 million, or $3.34 a share, compared with a loss of $40.8 million, or 63 cents a share, in the year-ago period. For the quarter ended March 31, the troubled home builder said it recorded after-tax impairment charges of $117.9 million, or $1.82 a share, as a result of challenging market conditions, including more sales incentives and further price declines. Total home-building revenue slipped 47% to $348.2 million, Standard Pacific said.
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