Standard Pacific Corp. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income of $21.8 million, compared with $8.5 million a year ago. Pretax income was $35.4 million compared with $8.7 million a year ago. Adjusted Homebuilding EBITDA was $63.8 million compared to $31.8 million a year ago. Total revenues were $357.7 million compared with $223.7 million a year ago. Net income available to common stockholders was $12.9 million compared with $4.8 million a year ago. Diluted earnings per share were $0.05 compared with $0.02 a year ago. Net cash used in operating activities was $58.5 million compared with $42.1 million a year ago. The year-over-year increase in cash inflows from operating activities (excluding land purchases and development costs) was primarily due to a 61% increase in home sale revenues. EBITDA was $65.4 million compared with $31.5 million a year ago. The company spent $118.7 million on land purchases and development costs, compared to $65.8 million for the 2012 first quarter.

Standard Pacific Corp. announced the highly-anticipated grand opening of Standard Pacific Homes at Windwood. Situated in the Artisan district of southwestern Bakersfield, the brand new community introduces prospective homebuyers to Standard Pacific Homes' modern Great Room centered floor plans through four new single-family home designs. Home shoppers will have the opportunity to explore the spacious layout of the one- and two-story single-family homes by touring four elegantly-appointed models at the grand opening celebration planned for April 6 and April 7. Doors open at 10:00 a.m. Home shoppers will be greeted with a choice of four floor plans and a menu of options for flexible living spaces to create a truly personalized home. Smartly designed interiors are centered on gourmet kitchens that open up to spacious Great Rooms. Innovative details such as enhanced storage, spa-like master suites and outdoor covered living areas on select plans provide a functional home suited for today's casual yet elegant lifestyle. Inviting exterior styles influenced by Spanish and European Country architecture create an unparalleled community curb appeal. Priced from the mid-$200,000, the homes within Standard Pacific Homes at Windwood range in size from 1,935 to 2,600 square feet and offer up to five bedrooms, 3 baths plus an optional den. A unique benefit to Standard Pacific Homes at Windwood is its adjacency to the new Downtown Bakersfield Arts District. Residents will have the opportunity to enjoy access to Fox Theater, Stars Theater and Spotlight Theater. In addition, several art galleries are located around the intersection of 19th Street and Eye Street. The Arts District also hosts First Fridays, an event series that showcases art galleries and street vendors on the first Friday of every month in support of local artists. Nearby, Standard Pacific Homes at West Village offers all new home designs by Standard Pacific Homes that range from 1,794 to 2,626 square-feet and contain up to four bedrooms plus a den and three bathrooms. Prices start in the low $200,000. To experience Standard Pacific Homes at Windwood, attend the grand opening celebration on April 6 and April 7 from 10:00 a.m. to 5:00 p.m. Family-friendly festivities and model home tours commence at 10:00 a.m. The sales center is located at 10216 Sirretta Peak Place, Bakersfield, CA 93311. The sales center for Standard Pacific Homes at West Village is located at 5123 Blue Brook Drive, Bakersfield, CA 93313.

Standard Pacific Corp., Q1 2013 Earnings Call, May 03, 2013