Standard Pacific hit by Q1 loss

Standard Pacific Corp. officials blamed declining home prices and increased sales incentives, in part, for $192.3 million in pretax impairment charges that contributed to a $216.4 million net loss for the quarter.

The quarterly loss reported today, which amounted to a loss per share of $3.34, compares with a net loss of $40.8 million in first-quarter 2007 and a loss per share of 63 cents for that quarter.

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