Standard Pacific of Costa Mesa reported that...

Standard Pacific of Costa Mesa reported that first-quarter net income rose 32%, to $9.4 million from $7.1 million a year earlier. Revenue for the quarter ended March 31, 1988, increased 41%, to $87.7 million from $62.2 million in the first quarter of 1987. The company attributed the increase in revenues to new home deliveries and an increase in sales from the manufacturing subsidiary. Revenues for 1987 have been restated to reflect the consolidation of Standard Pacific L.P.’s previously unconsolidated subsidiaries. Standard Pacific is a builder of medium-priced, single-family homes; assists home buyers in finding loans through its subsidiary, Standard Pacific Savings, and manufactures and markets office partitions and office furniture through its Panel Concepts subsidiary.