Chairman Anticipates Record Year for Dominion Homes, Inc.Business Editors DUBLIN Dublin, city, Republic of Ireland Dublin, Irish Baile Átha Cliath, county borough (1991 pop. 915,516), Leinster, capital of the Republic of Ireland, on Dublin Bay at the mouth of the Liffey River. , Ohio--(BUSINESS WIRE)--May 2, 2001 At Dominion dominion, power to rule, or that which is subject to rule. Before 1949 the term was used officially to describe the self-governing countries of the Commonwealth of Nations—e.g., Canada, Australia, or India. Homes' (Nasdaq:DHOM) annual meeting of shareholders this morning, the homebuilder will review strong financial results for the year 2000, and announce that a record year is anticipated for 2001. "We are delighted to report record results for the first four months of 2001, and we anticipate 2001 will be a record year for Dominion Homes," Douglas G. Borror, Chairman and Chief Executive Officer of Dominion Homes said. "We have already achieved record first quarter earnings, and with a March 31 backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of over 1,100 homes with sales value of over $220 million, we believe that our diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of for 2001 will exceed our previous annual record of $1.46 per share." Net income for the first quarter of 2001 was over $1.1 million, a 54% increase over the same period last year. Dominion Homes, which is included in the Year 2000 List of the "200 Best Small Companies, published by Forbes Magazine, offers four distinct series of homes which are differentiated by size, price, standard features and options. The Company's building philosophy focuses on "The Best of Everything" for its customers. The Company, with homes ranging in price from $100,000 to $300,000, has built homes for more than 17,000 Central Ohio and Louisville, KY families. Certain statements in this news release are "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. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors include, but are not limited to, changes in general economic conditions, fluctuations in interest rates, increases in raw materials and labor costs, levels of competition, weather conditions and other factors described in the Company's 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. for the year ended December 31, 2000. |
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