M.D.C. Holdings Third Quarter 2012 Numbers | ||
Quarter Three | Nine Months | |
Profit/(Loss) | $20.1M +163.5% | $33M +141.5% |
Home Deliveries | 1,039 +47% | 2,519 +27.9% |
New Orders | 1,008 +69.4% | 3,473 +46.9% |
Behind the Numbers:
M.D.C. Holdings posted its third quarter of profitability on Thursday, helped by some sturdy improvement in deliveries and a contribution from its financial services arm of $9.3 million made possible by more mortgages at greater profits. The only cloud on M.D.C.’s horizon is its ability to find land it can build on at a decent profit. Its lot count dropped by just under 6% over the quarter. However CEO Larry Mizel stressed in the earnings release that a greater share of M.D.C.’s lots are ready to go versus in need of further development.
M.D.C. Holdings’ fiscal year ends December 31.
