Printer Friendly

ORIOLE HOMES REPORTS THIRD QUARTER SALES DATA; VALUE OF NEW SALES CONTRACTS UP 32 PERCENT; BACKLOG OF UNDELIVERD HOUSING UP 29 PERCENT

 DELRAY BEACH, Fla., Oct. 4 /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, 1993.
 The company reported that the total value of new sales contracts entered into during the quarter ended Sept. 30, 1993, increased 32 percent to $25,118,177 (representing 168 new contracts), from $19,049,184 (representing 164 new sales) during the third quarter of 1992.
 The value of the company's backlog of undelivered housing, which reflects new sales contracts which have yet to close, increased 29 percent to $57,390,440 (representing 410 units) as of Sept. 30, 1993, from $44,490,545 (representing 345 units) as of Sept. 30, 1992.
 Sales of houses and condominiums closed during the recently ended third quarter amounted to $21,822,052 (168 units), compared to $19,496,854 (149 units) during the same quarter of 1992. Sales of houses and condominiums closed during the nine months ended Sept. 30, 1993 totaled $57,641,374 (463 units), compared with $56,471,073 (452 units) during the first nine months of 1992.
 Commenting on the sales data, Mark A. Levy, president of Oriole Homes, stated, "We are very pleased with the continued increase in the average unit price of our backlog, which now stands at $139,977, compared to $122,821 as of Dec. 31, 1992. This increase is underscored by the significant growth in the per unit value of new sales contracts, which rose 28 percent from $116,154 per unit in 1992's third quarter to $149,513 per unit in the most recently ended third quarter. Taken together, we believe these positive trends in our business point to further improvements in net sales during upcoming quarters."
 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- 10/4/93
 /CONTACT: Mark A. Levy, president, of Oriole Homes, 407-274-2000; or Barry A. Rothman of Greenstone Roberts Investor Relations Group, 305-975-3500, for Oriole Homes/
 (OHC.A OHC.B)


CO: Oriole Homes Corp. ST: Florida IN: CST SU:

AW-JV -- FL005 -- 1017 10/04/93 12:08 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 4, 1993
Words:376
Previous Article:CH2M HILL TO TACKLE ENVIRONMENTAL PROBLEMS IN NEWLY INDEPENDENT STATES
Next Article:HAUSER EXPANDS AIDS RELATED RESEARCH WITH THIRD NIH GRANT
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters