M/I Homes First Quarter 2012 Numbers | ||
Quarter One | ||
Profit/(Loss) | ($3.2) M +81.3% YOY | |
Home Deliveries | 507+15.5% YOY | |
New Orders | 764 +16.8% YOY | |
Behind the Numbers:
M/I lost money in its first quarter, but a whole lot less than it did in the first quarter of 2011. While sales orders took a hop upward, what looks most promising is the company’s expanded 18.1% gross margin which was at its highest first-quarter level in five years. The company’s shift to better-performing locations is to credit for most of the margin improvement, the company said.
M/I Homes’ fiscal year ends Dec. 31.
