Dominion Homes Reports Record 1997 Sales and Net Income.DUBLIN, Ohio--(BUSINESS WIRE)--Feb. 3, 1998--Dominion Homes (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) today reported net income rose 91 percent to $7,705,000, or $1.20 per share on a 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. basis, for the 12 months ended Dec. 31, 1997, vs. $4,037,000, or 64 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. on a diluted basis, for the prior year. Net income for the quarter ended Dec. 31, 1997, war ago. For the three months ended Dec. 31, 19d Dec. 31, 1997, up 7 percent from the 1,308 sales contracts Sales Contract Contract between a seller and buyer for the sale of goods, services, or both. during 1996. The number of homes the company closed in 1997 increased 17 percent to 1,387 from 1,188 the prior year. At Dec. 31, 1997, the company had 703 contracts in backwith the record results for 1997. Our strong end 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. and generally favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. market condielebrity, and Tradition -- which are diff erentiaproducts, qu ality and customer service. Thereurities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Such s, 1996. -0-
ths Ended
Dec. 31, 1997 Dec. 31, 1996
__________________ __________________
(Unaudited) (Unaudited)
Revenues $ 55,534 $ 51,821
Cost of real estate sold 42,985 40,175
___________ ___________
Gross profit 12,549 11,646
Selling, general and
administrative 8,117 7,243
Settlement of litigation 850
taxes 1,451 759
___________ ___________
Net income $ 2,016 $ 1,381
_______
Weighted average shares
outstanding d) (Unaudited)
Revenues $ 207,926 $ 175,579
Cost of real estate sold 158,373 136,498
___________ ___________
Gross profit 49,553 39,081
Selling, general and
administrative 30,634 25,475
Settlement of litigation 850
___________ ___________
Income from operations 18,919 12,756
Interest expense 5,644 6,345
___________ ___________
Income before income taxes 13,275 6,411
Provision for income taxes 5,570 2,374
___________ ___________
Net income $ 7,705 $ 4,037
___________ ___________
___________ ___________
Diluted earnings per share $ 1.20 $ 0.64
___________ ___________
___________ ___________
Weighted average shares
outstanding 6,432,794 6,275,050
___________ ___________
CONTACT: 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. REAL ESTATE EARNINGS Today's News On The Net - Business Wire's full file on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the with Hyperlinks to your home page. |
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