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ORIOLE HOMES CORP. REPORTS 64 PERCENT INCREASE IN THIRD QUARTER HOME SALES; VALUE OF COMPANY'S BACKLOG UP 18 PERCENT

 ORIOLE HOMES CORP. REPORTS 64 PERCENT INCREASE IN THIRD QUARTER
 HOME SALES; VALUE OF COMPANY'S BACKLOG UP 18 PERCENT
 DELRAY BEACH, Fla., Oct. 8 /PRNewswire/ -- Oriole Homes Corp. (AMEX: OHC.A, OHC.B) today reported preliminary unaudited sales data for the third quarter and nine months ended Sept. 30, 1992.
 Sales of houses and condominiums during the third quarter ended Sept. 30, 1992 totaled $19,496,854 (149 units), representing an increase of 64 percent over sales of houses and condominiums of $11,892,963 (104 units) during the third quarter of 1991. Sales of houses and condominiums for the first nine months of 1992 totaled $56,471,073 (452 units), compared with sales of houses and condominiums of $45,643,313 (396 units) during the first nine months of 1991.
 The value of the company's backlog of undelivered housing, which reflects new sales contracts which have yet to close, increased 18 percent to $44,490,545 (representing 345 units) as of Sept. 30, 1992, from $37,577,049 (representing 302 units) as of Sept. 30, 1991. The value of the company's backlog of undelivered housing totaled $44,938,215 (representing 330 units) as of June 30, 1992, and $27,684,369 (representing 205 units) as of Dec. 31, 1991.
 The company also reported that it entered into 164 new sales contracts, valued at $19,049,184, during the recently ended third quarter, compared with 156 new sales contracts, valued at $18,876,375 during the third quarter of 1991. For the nine months ended Sept. 30, 1992, the company entered new sales contracts valued at $73,277,249 (592 units), representing an increase of 23 percent over the $59,695,229 (508 units) entered into during the same period in 1991.
 Oriole Homes is engaged principally in the design, construction, marketing and sale of single-family homes, patio homes, townhomes, villas, duplexes and low- and mid-rise condominiums in Palm Beach and Broward counties in Florida.
 -0- 10/8/92
 /CONTACT: Mark A. Levy, president of Oriole Homes Corp., 407-274-2000; or Barry A. Rothman of Greenstone Roberts Public Relations, 305-975-3500, for Oriole Homes Corp./
 (OHC.A OHC.B) CO: Oriole Homes Corp. ST: Florida IN: CST SU:


AW-JB -- FL005 -- 7785 10/08/92 11:06 EDT
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Publication:PR Newswire
Date:Oct 8, 1992
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