M.D.C. Holdings First Quarter 2012 Numbers | ||
Quarter One | ||
Profit/(Loss) | $2.3 M +153.1% YOY | |
Home Deliveries | 619 +11.7% YOY | |
New Orders | 1,063 +50.8% YOY | |
*Excludes results from discontinued operations.
Behind the Numbers:
M.D.C. booked its first profitable pretax quarter since the third quarter of 2006, thoroughly beating Wall Street expectations. It also turned in the biggest order improvement of the home builder group so far. Big cuts to personnel and paying off debt to reduce interest costs helped the company’s bottom line. Still, its margins remain lean. The company’s move to selling fewer speculative homes and more built-to-order houses that bring higher profits has also helped earnings.
M.D.C. Holdings’ fiscal year ends Dec. 31.
