Brookfield Homes Announces Second Quarter Net New Orders, and Notice of Second Quarter Conference Call and Webcast.DEL MAR Del Mar is the name of several places in the United States of America:
See: New York Stock Exchange :BHS BHS beta-hemolytic streptococci. ) - Net New Orders Net new orders for the three months ended June 30, 2005 totaled 502 units, a decrease of 140 units compared to the same period in 2004. The decrease in net new orders resulted from fewer homes available for sale in our California operations, partially offset by an increase in sales in the Washington D.C. Area. Over the next 12 months, we have identified potential bulk land sales of up to 2,000 lots on which we expect to realize net income of $75 million or $2.40 per share. As a result of these potential bulk land sales, we expect our 2005 home closings to be reduced to 1,750 of which we have over 90% closed or in backlog. Due to the potential bulk land sales, we expect our 2005 earnings guidance will be increased when we announce our second quarter financial results on Thursday, July 28, 2005. A summary by region of the net new orders and active selling communities follows:
Active Selling
Net New Orders Communities
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Three months Six months Three months
ended ended ended
June 30 June 30 June 30
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2005 2004 2005 2004 2005 2004
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San Francisco
Bay Area 54 140 117 271 2 5
Southland /
Los Angeles 61 136 155 276 3 5
San Diego /
Riverside 183 243 342 404 6 6
Washington D.C.
Area 204 123 405 258 15 14
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502 642 1,019 1,209 26 30
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Conference Call and Webcast for Investors and Analysts You are invited to participate in Brookfield Homes' Second Quarter Conference Call on Friday, July 29, 2005 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. Brookfield Homes will release its 2005 second quarter financial results on Thursday, July 28th at approximately 5:00 p.m. (EST), and it will be available on our website at www.brookfieldhomes.com under "Investor Relations Investor relations The process by which the corporation communicates with its investors. - Press Releases." Our 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. To participate in the Conference Call, please dial 1-800-251-4491, 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 Friday, August 12, 2005. To access this rebroadcast, please call 1-800-807-5315, toll free in North America. Brookfield Homes Corporation 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 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. / Riverside; Sacramento; and Washington D.C. Area markets. For more information, visit the Brookfield Homes website at www.brookfieldhomes.com. Note: Certain statements in this press release that are not historical facts, including information concerning targeted 2005 home closings, our quarter-end backlog, potential bulk land sales and the expected net income realized therefrom there·from adv. From that place, time, or thing. Adv. 1. therefrom - from that circumstance or source; "atomic formulas and all compounds thence constructible"- W.V. , our 2005 earnings guidance, and those statements preceded by, followed by, or that include the words "planned", "projected", "goals", "potential", "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. Brookfield Homes Corporation (NYSE:BHS) |
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