Dominion Homes Reports Increase in Quarterly Sales.DUBLIN, Ohio Dublin is a city in Delaware, Franklin, and Union counties in the U.S. state of Ohio. The population was 31,392 at the 2000 census. In 2006, the population was estimated to be 36,565[1], and Dublin continues to be one of the fastest-growing suburbs of Columbus. -- 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, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DHOM) reported that home sales for the three months ended June 30, 2005 increased 28% to 655 homes compared to 510 home sales for the three months ended June 30, 2004. The sales value of the homes sold in the second quarter of 2005 increased 24% to $123.1 million compared to $98.9 million for the second quarter of 2004. Included in both sales and closings for the second quarter 2005 are 20 model homes, with a sales value of $3.2 million, which the Company leased back for use as sales models. The Company closed 548 homes during the three months ended June 30, 2005 compared to 778 homes for the same period a year ago, a 30% decrease. The Company had a backlog at June 30, 2005 of 887 sales contracts Sales Contract Contract between a seller and buyer for the sale of goods, services, or both. , with a sales value of $177.1 million, compared to 1,067 sales contracts in backlog at June 30, 2004, with a sales value of $216.4 million. The decrease in both homes closed and sales contracts in backlog at June 30, 2005 reflect the slowdown in home sales experienced in the Company's markets that began during the second quarter of 2004. The Company will announce its second quarter 2005 financial results on August 4, 2005 after the market closes and will host a conference call on August 5, 2005 at 10:00 a.m. Eastern Time. Interested parties may listen in by accessing the Company's website at www.dominionhomes.com. Dominion Homes offers a variety of homes, which are differentiated by size, price, standard features and available options. The Company's "Best of Everything" philosophy focuses on providing its customers with unsurpassed products, quality, and customer service. There are currently over 60 Dominion Homes locations in Central Ohio and Louisville and Lexington, Kentucky Lexington, Kentucky, United States, known as the "Horse Capital of the World," is located in the heart of the Bluegrass region. It is the second-largest city in Kentucky, after Louisville, Kentucky,[1] and the 68th largest in the United States. . Additional information about the Company and its homes is located on its website. 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, weather conditions, changes in general economic conditions, fluctuations in interest rates, increases in raw materials and labor costs, levels of competition and other factors described in the Company's Annual Report on 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, 2004. All forward-looking statements made in this press release are based on information presently available to the management of the Company. The Company assumes no obligation to update any forward-looking statements. |
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