ORANGE COUNTY EARNINGS

Standard Pacific Corp.: The Costa Mesa home builder reported that net income climbed 56% in the third quarter on record revenue. Net income totaled $16.2 million, or 54 cents a share, up from $10.4 million, or 34 cents a share. Revenue increased 53% to a record $297.1 million, largely because of a 46% increase in new-home deliveries and a 4.7% increase in the average home selling price, to $339,000. In California, the average home selling price increased 14% to $421,000, the company said.

The opening of 37 new-home developments in the first nine months, coupled with strong backlog, should position the company to surpass $1 billion in revenue for 1999, Standard Pacific said.