Presley Cos.: The Newport Beach home builder...

Presley Cos.: The Newport Beach home builder posted a third-quarter profit of $2.1 million, or 4 cents a share, contrasted with a loss of $3.4 million, or 19 cents a share, for the same period a year earlier. Sales declined 17% to $71.3 million from $85.5 million. Year-to-date profit totaled $4.5 million, or 8 cents a share, contrasted with a loss of $22.3 million, or $1.20 a share, for the first three quarters of 1993. Nine-month sales were up 4% to $201.8 million from $194.7 million. The company said the results were based on the retroactive effect as of Jan. 1 of a capital restructuring and reorganization.