Brookfield Homes Announces 2005 Home and Lot Closings, Net New Home Orders and Notice of Year End Conference Call and Webcast.DEL MAR Del Mar is the name of several places in the United States of America:
n. A mark (´) indicating: a. that a vowel is close or tense, as é in French été. b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek. c. ]2005 Home and Lot Closings E[acute accent]In 2005, Brookfield Homes Corporation (NYSE NYSE See: New York Stock Exchange :BHS BHS beta-hemolytic streptococci. ) closed 1,582 homes and 1,242 lots for a total of 2,824 home and lot closings. This compares to a total of 2,198 home and lot closings in 2004. The company's backlog at December 31, 2005 was 455 homes or 28% of the estimated 1,625 home closings in 2006. Brookfield Homes currently plans to close approximately 1,500 bulk lot sales during 2006. E[acute accent]Brookfield Homes expects its 2005 earnings per share to slightly exceed the previously announced 2005 earnings guidance high target of $7.00 per share. E[acute accent]Net New Home Orders E[acute accent]Net new home orders for the three months ended December 31, 2005 totaled 156 units, a decrease of 99 units compared to the same period in 2004. The decrease in net new home orders for the quarter resulted from fewer homes available for sale in our California operations, and a fourth quarter slowdown in sales in the San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. and Washington markets. E[acute accent]A summary by region of the net new home orders and active selling communities follows:
Active Selling Communities Net New Home Orders
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Three months Three months Twelve months
ended ended ended
December 31 December 31 December 31
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2005 2004 2005 2004 2005 2004
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San Francisco Bay Area 1 5 7 31 150 348
Southland / Los Angeles 6 5 92 30 302 338
San Diego / Riverside 7 8 11 110 412 674
Washington D.C. Area 11 9 46 84 557 405
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25 27 156 255 1,421 1,765
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E[acute accent]Conference Call and Webcast for Investors and Analysts E[acute accent]You are invited to participate in Brookfield Homes' Year End Conference Call on Thursday, February 2, 2006 at 11:00 a.m. (EST EST electroshock therapy. EST abbr. electroshock therapy ) to discuss with members of senior management our results and current business initiatives. E[acute accent]Brookfield Homes will release its 2006 year end financial results on Wednesday, February 1st at approximately 5:00 p.m. (EST), and it will be available on the website at www.brookfieldhomes.com under "Investor Relations Investor relations The process by which the corporation communicates with its investors. - Press Releases." Brookfield Homes' supplemental information package will also be available under "Investor Relations - Financial Reports and Investor Presentations." The Conference Call will also be Webcast live on our website, where it will be archived for future reference. E[acute accent]To participate in the Conference Call, please dial 1-877-667-7774, toll free in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , at approximately 10 minutes prior to the start time. For those unable to participate in the Conference Call, a taped rebroadcast will also be available until midnight Wednesday, February 15, 2006. To access this rebroadcast, please call 1-888-509-0081, toll free in North America. E[acute accent]Brookfield Homes Corporation E[acute accent]Brookfield Homes Corporation is a residential homebuilder and land developer, building homes and developing land in master-planned communities and infill locations. We design, construct and market single-family and multi-family homes primarily to move-up and luxury homebuyers. We also entitle and develop land for our own communities and sell lots to other homebuilders. Our portfolio includes 30,000 lots owned and controlled in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay ; Southland south·land or South·land n. A region in the south of a country or an area. south  land·er n.Noun 1. / Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. ; San Diego / Riverside; Sacramento; and Washington D.C. Area markets. For more information, visit the Brookfield Homes website at www.brookfieldhomes.com. E[acute accent]Note: Certain statements in this press release that are not historical facts, including information concerning projected 2006 home and lot closings and year-end backlog, 2005 earnings guidance and those statements preceded by, followed by, or that include the words "planned", "projected", "goals", "expected", "targeted," "scheduled" or similar expressions, constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Undue reliance should not be placed on forward-looking statements because they involve known and unknown risks, uncertainties and other factors, which may cause the actual results to differ materially from the anticipated future results expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those set forward in the forward-looking statements include, but are not limited to: changes in general economic, real estate and other conditions; mortgage rate changes; availability of suitable undeveloped land at acceptable prices; adverse legislation or regulation; ability to obtain necessary permits and approvals for the development of our land; availability of labor or materials or increases in their costs; ability to develop and market our master-planned communities successfully; confidence levels of consumers; ability to raise capital on favorable terms; adverse weather conditions and natural disasters; relations with the residents of our communities; risks associated with increased insurance costs or unavailability of adequate coverage and ability to obtain surety bonds surety bond An insurance fee required before a duplicate security is issued to replace one that has been lost. The fee is approximately 4% of the market value of the security to be replaced. ; competitive conditions in the homebuilding industry, including product and pricing pressures; and additional risks and uncertainties referred to in our Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other SEC filings, many of which are beyond our control. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. E[acute accent]Brookfield Homes Corporation (NYSE:BHS) |
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