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February 8, 2010
Dan Ryan Builders, the Frederick, Md.-based No. 65 home builder on the Builder 100 list, has opened up operations in its sixth state, North Carolina, with a new division in Raleigh, the South Atlantic Region's 13th busiest home building market.
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Bloomfield Hills, Mich.-based Pulte Homes will report its fourth quarter and full-year 2009 earnings Tuesday morning, followed in close order with a conference call, and analysts are expecting a reported loss of $0.19 per share for the quarter compared with a loss of $1.33 per share in the same quarter of 2008.
February 8, 2010
Coming off a positive fourth quarter earnings performance that netted the company earnings of $2.68 per share, the future would appear bright for M.D.C. Holdings.
The company had all the key metrics moving in the right direction from the same time last year. New orders were up 82%, backlog was up 55%, gross margins grew 590 basis points to 18.2%--even the company's billion-plus cash position grew, thanks to a greater-than-expected $142.6 million tax benefit. About the worst that could be said about the company was that its SG&A, as a percentage of revenues, was high relative to peers at about 19.7%, although it decreased in dollar value.
February 5, 2010
Beazer Homes USA joined the lineup of builders who were able to report a profitable quarter because of the government's extension of the net operating loss carryback to five years from two. The Atlanta-based builder posted net earnings of nearly $44.5 million, $1.09 per diluted share, compared with a loss of $79.2 million, or $2.05 per diluted share, in the same quarter of its last fiscal year. Its tax refund contributed $94 million.
February 5, 2010
M.D.C. Holdings, Inc. (NYSE: MDC), Denver, on Friday morning reported net income for the 2009 fourth quarter of $127.2 million ($2.68 per diluted share), based on the impact of a $142.6 million benefit from income taxes. The gain compared with a net loss for the 2008 fourth quarter of $89 million(-$1.92 per diluted share) and included $14 million in impairments. Analysts were expecting a loss of 39 cents a share. Without the tax benefit, the company, parent of Richmond American Homes, posted a $15.4 million loss.
February 5, 2010
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