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NVR LP., ANNOUNCES RESULTS FOR ITS FIRST QUARTER ENDED MARCH 31, 1993

 MCLEAN, Va., May 12 /PRNewswire/ -- NVR L.P. (AMEX: NVR) reported net income of $189,000 ($0.01 per unit) for its first quarter ended March 31, 1993, compared to a net loss of $9,421,000 ($0.32 per unit) during the first quarter of 1992. The first quarter of 1993 included $4,608,000 of non-recurring expenses associated with NVR's Chapter 11 reorganization. Since its Chapter 11 filing, NVR has continued to accrue and pay interest on its senior secured bank debt but has not accrued or paid interest on its subordinated debt.
 NVR's management emphasized that its homebuilding and financial services business segments continued to generate positive operating profits in each of the four quarters since NVR and certain of its subsidiaries filed for relief under Chapter 11 of the U.S. Bankruptcy Code on April 6, 1992.
 NVR L.P.
 Consolidated Statement of Operations
 (In thousands, except per unit amounts)
 Three months ended
 March 31,
 1993 1992
 Total revenues $ 172,568 $ 183,391
 Income (loss) before
 reorganization/non-
 recurring items $ 4,797 $ (9,421)
 Reorganization/non-
 recurring items (4,608) --
 Net income (loss) $ 189 $ (9,421)
 Income (loss) per unit $ 0.01 $ (.32)
 Weighted average units
 outstanding 30,396 30,384
 Homebuilding Unit Data
 New orders (units) 1,163 1,261
 Settlements (units) 893 949
 Backlog (units) 1,990 2,160
 Backlog ($) (000's) 348,620 355,868
 -0- 5/12/93
 /CONTACT: Doug Poretz of NVR L.P., 703-506-1778 or, after hours, 703-448-1312/


CO: NVR L.P. ST: Virginia IN: CST SU: ERN

KD-xx -- DC022 -- 7671 05/12/93 14:54 EDT
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Publication:PR Newswire
Date:May 12, 1993
Words:266
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