Continental Homes Holding Corp. Reports Third-Quarter Fiscal 1998 Results.SCOTTSDALE Scottsdale, city (1990 pop. 130,069), Maricopa co., central Ariz.; settled in 1895 by Winfield Scott, inc. 1951. It is a resort and retirement center in the Phoenix metropolitan area. , Ariz.--(BUSINESS WIRE)--March 20, 1998--Continental Homes Holding Corp. (NYSE NYSE See: New York Stock Exchange :CON) reported net income for the quarter ended Feb. 28, 1998 of $7,400,000 or $1.08 per share (78 cents fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. ) compared with net income of $6,758,000 or 98 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. (72 cents fully diluted) for the corresponding quarter of last year. The company delivered 1,264 homes in its third quarter of fiscal 1998 generating revenues of $169,467,000 compared with 1,208 homes and revenues of $169,986,000 in the third quarter of fiscal 1997. Net income for the first nine months of fiscal 1998 was $22,655,000 or $3.30 per share ($2.38 fully diluted) compared with $23,786,000 or $3.42 per share ($2.48 fully diluted) for the first nine months of fiscal 1997. The aggregate sales value of consolidated net new orders for the third quarter of fiscal 1998 increased 46 percent to $227 million representing 1,649 homes compared with $155,407,000 representing 1,160 homes in the third quarter of fiscal 1997. At Feb. 28, 1998, the company's 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. consisted of 2,546 homes with an aggregate sales value of approximately $362,388,000, an increase of 59 percent over a backlog of 1,636 homes with an aggregate sales value of approximately $227,676,000 at Feb. 28, 1997. Continental Homes designs, constructs, sells and finances single-family homes in Phoenix; Austin, San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. and Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. ; Denver; South Florida and Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . -0-
CONTINENTAL HOMES HOLDING CORP.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands, except per share data)
Three months ended Nine months ended
Feb. 28, Feb. 28,
1998 1997 1998 1997
Revenues $172,970 $172,677 $551,833 $540,195
Income from
operations, net 7,400 6,758 22,977 23,786
Extraordinary
loss, net -- -- (322) --
Net income 7,400 6,758 22,655 23,786
Earnings per share:
Primary:
Income from
operations $ 1.08 $ .98 $ 3.35 $ 3.42
Net income 1.08 .98 3.30 3.42
Fully diluted:
Income from
operations $ .78 $ .72 $ 2.41 $ 2.48
Net income .78 .72 2.38 2.48
Weighted average
shares 6,865,905 6,897,402 6,860,308 6,960,023
CONTACT: Continental Homes Holding Corp., Scottsdale Julie E. Collins, 602/483-0006 |
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