Engle Homes Inc. Reports Record Home Sales Revenue and New Home Deliveries for Fiscal 1998.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Nov. 9, 1998-- New Home Sales New Home Sales An economic indicator that measures sales of newly built homes. Released by the U.S. Department of Commerce's Census Bureau, it includes both quantity and price statistics. Contracts Increase 67%, 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. Rises 87% During Fourth Quarter Engle En´gle n. 1. A favorite; a paramour; an ingle. v. t. 1. To cajole or coax, as favorite. I 'll presently go and engle some broker. - B. Jonson. Homes, Inc. (Nasdaq/NMS:ENGL), a national homebuilder with operations in eight states, Monday Monday: see week. reported certain preliminary unaudited results for its 1998 fiscal year and the quarter ended Oct. 31, 1998. Both the quarter and fiscal year experienced the highest number of new home deliveries in the company's history. For the fiscal year ended Oct. 31, 1998, the company delivered a record 2,605 new homes to home buyers, which represented a 31% increase when compared with 1,992 homes delivered in the previous fiscal year. New home deliveries in FY1998 generated revenues of approximately $501.0 million, versus $404.4 million in comparable revenues during FY1997. The company entered into 3,357 new home sales contracts valued at approximately $651.0 million during its most recent fiscal year, for a gain of 82% when compared with 1,845 new home sales contracts valued at $368.1 million in the fiscal year ended Oct. 31, 1997. Engle Homes delivered 817 new homes to customers during the fourth quarter of FY1998, for a gain of 57% when compared with 519 new homes delivered in the corresponding period of the previous fiscal year. New home deliveries were valued at approximately $155.7 million during the quarter ended Oct. 31, 1998, versus $107.6 million in the fourth quarter of FY1997. Engle Homes entered into 896 new home sales contracts, valued at approximately $179.1 million, during the fourth quarter of FY1998, representing an increase of 67% when compared with 538 new home sales contracts valued at $103.5 million during the final quarter of the previous fiscal year. The record fourth quarter new home sales contracts were reflective Refers to light hitting an opaque surface such as a printed page or mirror and bouncing back. See reflective media and reflective LCD. of continued strong sales activity in all of the company's home building divisions. The company's backlog of new homes under contract totaled a record 1,621 homes, valued at approximately $324.0 million, as of Oct. 31, 1998. This represented an increase of 87% when compared with a backlog of 869 homes, valued at $174.0 million, at the end of FY1997. Headquartered in Boca Raton, Engle Homes, Inc. designs, constructs, markets and sells single-family sin·gle-fam·i·ly adj. Relating to or being a dwelling designed for one family only: a single-family home; single-family occupancy. homes, townhomes, patio homes A patio home is a type of housing. The term tends to imply a suburban setting and a unit of several houses attached to each other, typically with shared walls between units, and with exterior maintenance and landscaping provided through an association fee. and condominiums in Florida Florida, state, United States Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and ; Denver Denver, city (1990 pop. 467,610), alt. 5,280 ft (1,609 m), state capital, coextensive with Denver co., N central Colo., on a plateau at the foot of the Front Range of the Rocky Mts., along the South Platte River where Cherry Creek meets it; inc. 1861. ; Dallas Dallas, city (1990 pop. 1,006,877), seat of Dallas co., N Tex., on the Trinity River near the junction of its three forks; inc. 1871. The second largest Texas city, after Houston, and the eighth largest U.S. ; Raleigh Raleigh (rôl`ē, räl`ē), city (1990 pop. 207,951), state capital, and seat of Wake co., central N.C.; the site was selected for the capital in 1788, and the city was laid out and inc. 1792. , N.C.; Atlanta Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847. ; Phoenix; Virginia Virginia, state, United States Virginia, state of the south-central United States. It is bordered by the Atlantic Ocean (E), North Carolina and Tennessee (S), Kentucky and West Virginia (W), and Maryland and the District of Columbia (N and NE). and Maryland Maryland (mâr`ələnd), one of the Middle Atlantic states of the United States. It is bounded by Delaware and the Atlantic Ocean (E), the District of Columbia (S), Virginia and West Virginia (S, W), and Pennsylvania (N). . The company's financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. subsidiaries provide mortgage banking, primarily to the purchasers of its homes, and title insurance services. The company's common stock is quoted on The Nasdaq National Market under the symbol "ENGL". -0-
ENGLE HOMES, INC. - SELECTED OPERATING DATA
Three Months Ended October 31, 1998
(Dollars in thousands)
1998 1997
New Home Contracts Units Dollars Units Dollars
South Florida 205 $ 41,900 162 $ 31,700
Orlando 178 34,800 98 19,200
Texas 54 9,300 39 6,000
West Coast Florida 73 12,300 64 10,500
Virginia/Maryland 70 15,800 22 6,100
North Carolina 22 4,600 15 2,900
Atlanta 22 3,700 0 0
Arizona 127 26,500 45 8,800
Denver 145 30,200 93 18,300
TOTAL: 896 $179,100 538 $103,500
Homes Closed
South Florida 211 $ 39,700 211 $ 47,400
Orlando 142 25,800 119 23,000
Texas 73 11,400 31 5,300
West Coast Florida 82 13,800 27 4,100
Virginia/Maryland 43 11,900 30 7,700
North Carolina 19 3,600 9 1,700
Atlanta 22 3,400 0 0
Arizona 98 20,000 1 100
Denver 127 26,100 91 18,300
TOTAL: 817 $155,700 519 $107,600
Backlog
South Florida 365 $ 78,000 340 $ 72,600
Orlando 355 71,100 144 28,400
Texas 141 23,400 63 9,900
West Coast Florida 178 29,300 108 18,000
Virginia/Maryland 91 21,500 41 10,900
North Carolina 32 6,000 16 3,400
Atlanta 19 3,300 0 0
Arizona 219 45,800 57 11,400
Denver 221 45,600 100 19,400
Total 1,621 $ 324,000 869 $174,000
ENGLE HOMES, INC. - SELECTED OPERATING DATA
Fiscal Year Ended October 31, 1998
(Dollars in thousands)
1998 1997
New Home Contracts Units Dollars Units Dollars
South Florida 781 $156,400 628 $135,100
Orlando 695 131,000 365 69,200
Texas 299 47,300 148 23,800
West Coast Florida 327 53,800 153 25,400
Virginia/Maryland 198 49,000 110 27,600
North Carolina 75 14,200 37 7,700
Atlanta 51 8,200 0 0
Arizona 396 81,400 58 11,500
Denver 535 109,700 346 67,800
TOTAL: 3,357 $651,000 1,845 $368,100
Homes Closed
South Florida 756 $ 151,200 847 $189,000
Orlando 484 88,300 386 71,800
Texas 221 33,800 173 28,400
Tampa 257 42,500 84 13,200
Virginia/Maryland 148 38,400 103 24,700
North Carolina 59 11,600 64 13,100
Atlanta 32 4,800 0 0
Arizona 234 46,900 1 100
Denver 414 83,500 334 64,100
TOTAL: 2,605 $ 501,000 1,992 $404,400
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