Standard Pacific ’93 Profit Dips 40%

Standard Pacific Corp., a Costa Mesa home builder, reported a 40% decline in 1993 profit, to $2.7 million, or 9 cents a share, from $4.5 million, or 15 cents a share. The 1993 figure included a gain of $858,000 from an accounting change. Revenue was down to $293.8 million from $299.4 million. For the fourth quarter, profit dropped to $472,000, or 2 cents a share, from $795,000, or 3 cents a share, for the like period last year. Revenue rose 26%, to $100.6 million.