ORANGE COUNTY EARNINGS

The Presley Cos.: The Newport Beach home builder, benefiting from the sizzling housing market, reported first-quarter net income of $5.4 million, or 10 cents a share, contrasted with a net loss of $3.2 million, or 6 cents a share, for the corresponding period last year. Sales advanced 24% to $82.3 million from $66.5 million. The company said that net new home orders and the backlog of homes sold but not closed increased in the three months, primarily because of improved conditions in substantially all of the company’s markets.