IRVINE, CA—Standard Pacific Corp. recently announced results for the fourth quarter and year ended December 31, 2012. Visit the firm's website for a complete discussion.

2012 Fourth Quarter Highlights and Comparisons to the 2011 Fourth Quarter

-- Net income of $486.9 million, or $1.22 per diluted share, vs. $15.3
million, or $0.04 per diluted share
-- Diluted earnings per share of $0.08*, excluding $454 million
deferred tax asset valuation allowance reversal
-- Net new orders of 983, up 60%
-- Backlog of 1,404 homes, up 106%; Dollar value of backlog up 122%
-- 150 average active selling communities, down 6%
-- 156 active selling communities at year end
-- Homebuilding revenues up 43%
-- Average selling price of $388 thousand, up 4%
-- 973 new home deliveries, up 24%
-- Gross margin from home sales of 20.8%, compared to 20.4%
-- SG&A rate from home sales of 13.1%, a 210 basis point improvement
-- $267.6 million of land purchases and development costs compared to $86.3
million
-- Adjusted Homebuilding EBITDA of $68.8 million*, or 16.4%* of
homebuilding revenues, compared to $42.8 million*, or 14.6%* of
homebuilding revenues
-- Homebuilding cash balance of $367 million
2012 Fiscal Year Highlights and Comparisons to Fiscal Year 2011