-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U97FZoWWMtoy0pxNX/s/8boi0bJfPYKzznkWelAAsHJhAcD2n+bE3nGDfSKVZolS +eNUlYFKnGl2CqHLhXTsxw== 0000891092-04-004677.txt : 20041223 0000891092-04-004677.hdr.sgml : 20041223 20041005210229 ACCESSION NUMBER: 0000891092-04-004677 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041005 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20041006 DATE AS OF CHANGE: 20041005 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STANDARD PACIFIC CORP /DE/ CENTRAL INDEX KEY: 0000878560 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 330475989 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10959 FILM NUMBER: 041067212 BUSINESS ADDRESS: STREET 1: 15326 ALTON PARKWAY CITY: IRVINE STATE: CA ZIP: 92618 BUSINESS PHONE: 9497891600 MAIL ADDRESS: STREET 1: 15326 ALTON PARKWAY CITY: IRVINE STATE: CA ZIP: 92618 8-K 1 e19198_8k.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): October 5, 2004 STANDARD PACIFIC CORP. (Exact Name of Registrant as Specified in Charter) Delaware 1-10959 33-0475989 (State or Other Jurisdiction (Commission (IRS Employer of Incorporation) File Number) Identification No.) 15326 Alton Parkway Irvine, California 92618 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (949) 789-1600 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): [_] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240-14a-12) [_] Pre-communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [_] Pre-communications pursuant to Rule 13e-4( c) under the Exchange Act (17 CFR 240.13e-4(c)) INFORMATION TO BE INCLUDED IN THE REPORT Item 2.02 Results of Operations and Financial Condition. On October 5, 2004, Standard Pacific Corp. (the "Company") issued a press release announcing preliminary new home orders for the three month period ended September 30, 2004 (the "Press Release"). Attached hereto as Exhibit 99.1 and incorporated by reference herein is a copy of the Press Release. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as a mended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: October 5, 2004 STANDARD PACIFIC CORP. By: /s/ Andrew H. Parnes ------------------------ Andrew H. Parnes Executive Vice President Chief Financial Officer 2 EXHIBIT INDEX Exhibit Number Description - -------------- ----------- 99.1 Press Release announcing preliminary new home orders for the three month period ended September 30, 2004. 3 EX-99.1 2 e19198ex99_1.txt PRESS RELEASE Exhibit 99.1 Standard Pacific Corp. Reports Record 2004 Third Quarter New Home Orders, Up 15% IRVINE, Calif., Oct. 5 /PRNewswire-FirstCall/ -- Standard Pacific Corp. (NYSE: SPF) announced today preliminary new home orders for the quarter ended September 30, 2004. Net new orders for the 2004 third quarter were up 15% year over year, the highest level for any third quarter in the Company's history. Preliminary Average Number of New Home Orders Active Selling Communities July - September July - September 2004 2003 2004 2003 Southern California 386 441 26 21 Northern California 375 369 22 22 Total California 761 810 48 43 Florida 710 464 51 30 Arizona 606 546 17 19 Carolinas 137 120 14 8 Texas 155 120 21 18 Colorado 105 88 14 12 Total Company 2,474 2,148 165 130 In Southern California, net new home orders were down 12% for the quarter due primarily to slower sales in Orange County, while sales activity was healthy in our Inland Empire, San Diego and Ventura divisions. In Northern California, new home orders continued to reflect healthy demand for new housing and were up slightly over the year earlier period on the same number of active selling communities. The Northern California total for the 2004 third quarter includes 89 orders from 4 communities from our new Sacramento division. In Florida, orders were up 53% on a 70% higher community count in spite of the record hurricane activity during the quarter. The lower sales rate per community during the quarter also reflects a conscious decision by the Company to reduce the number of new homes for sale due to the strong backlog levels in our Florida markets. The Company is generally experiencing strong demand for new housing throughout its Florida markets. The total for the 2004 third quarter period also includes 76 orders from 13 communities from Coppenbarger Homes in Jacksonville, which was acquired in October 2003. In Arizona, 2004 third quarter orders were up 11% year-over-year on an 11% decline in the number of active selling communities. While housing demand in Arizona continued to be strong, the Company has been regulating the release of new homes for sale in Phoenix to maximize gross margins and to better align sales with our backlog and production capabilities that have been constrained by the record setting permit level in the greater Phoenix metropolitan area. The total for the third quarter this year also includes 46 orders from 5 communities from our new Tucson division which we acquired in August 2004. The Company's cancellation rate for the 2004 third quarter was 18% compared to 20% for the 2003 third quarter. The Company's orders for the 2004 third quarter include 61 homes from 6 joint venture communities, compared to 133 homes from 8 joint venture communities in the 2003 third quarter. Standard Pacific, one of the nation's largest homebuilders, has built homes for more than 67,000 families during its 38-year history. The Company constructs homes within a wide range of price and size targeting a broad range of homebuyers. Standard Pacific operates in some of the strongest housing markets in the country with operations in major metropolitan areas in California, Texas, Arizona, Colorado, Florida and the Carolinas. The Company provides mortgage financing and title services to its homebuyers through its subsidiaries and joint ventures, Family Lending Services, WRT Financial, Westfield Home Mortgage, Universal Land Title of South Florida and SPH Title. For more information about the Company and its new home developments, please visit our website at: www.standardpacifichomes.com. This news release contains forward-looking statements. These statements include but are not limited to statements regarding new home orders. Such statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to differ materially from those that may be described or implied. Such factors include but are not limited to: local and general economic and market conditions, including consumer confidence, employment rates and interest rates. In addition, orders are typically subject to cancellation and may not result in sales. For a discussion of certain of the risks, uncertainties and other factors affecting the statements contained in this news release, see the Company's most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. SOURCE Standard Pacific Corp. -0- 10/05/2004 /CONTACT: Andrew H. Parnes, Executive Vice President of Standard Pacific Corp., +1-949-789-1616/ /Web site: http://www.standardpacifichomes.com / (SPF) CO: Standard Pacific Corp. ST: California IN: FIN RLT SU: -----END PRIVACY-ENHANCED MESSAGE-----