M/I Homes Fourth Quarter 2012 Numbers | ||
Quarter Four | Twelve Months | |
Profit/(Loss) | $5 M +268.5% | $13.3 +139.4% |
Home Deliveries | 887 +33% | 2,765 +21.4% |
New Orders | 673 +33.3% | 2,765 +26.8% |
Behind the Numbers:
M/I Homes had a strong fourth quarter, accounting for close to a third of the company’s full-year profit. The sales helped boost the company’s margin to 19.5%. CEO Robert H. Schottenstein credited the improved performance to newer communities and the company’s strategic geographic shift, including a move into the strong Texas market. As a result, the company ended the year with the highest sales backlog it has had in units and dollars since 2006.
M/I Homes’ fiscal year ended Dec. 31.
