Meritage Homes Third Quarter 2012 Numbers | ||
Quarter Three | Nine Months | |
Profit/(Loss) | $6.8M +309.7% | $10M +207.5% |
Home Deliveries | 1,197 +42.5% | 2,998 +26.3% |
New Orders | 1,204 +32.9% | 3,701 +39.4% |
Behind the Numbers:
Meritage had a profitable third quarter that would have been extraordinarily profitable if it had not had to place $8.7 million in reserve in case it loses a lawsuit over a Las Vegas joint venture project called South Edge; the company also logged $417,000 in land impairments. The third quarter was Meritage’s seventh consecutive quarter of year-over-year order increases. The company expects to close between 4,100 and 4,300 homes in 2012.
Meritage’s fiscal year ends December 31.
