Printer Friendly

WASHINGTON HOMES POSTS INCREASED NEW HOME DELIVERIES, NEW ORDERS AND BACKLOG

 LANDOVER, Md., Nov. 8 /PRNewswire/ -- Washington Homes, Inc. (NASDAQ-NMS: WHIN) announced today increased deliveries, record new orders taken and sales backlog for the first fiscal quarter ended Oct. 31, 1993.
 The company delivered 217 homes in the first quarter of fiscal 1994 ended Oct. 31, 1993, compared to 192 homes in the first quarter of fiscal 1993, an increase of 13.0 percent. Record new orders were taken in the quarter for 241 homes valued at $34.8 million compared to 205 net signed sales contracts valued at $28.4 million in the first quarter of fiscal 1993, representing increases of 17.6 percent and 22.5 percent, respectively.
 The company's backlog of homes under contract as of Oct. 31, 1993, increased to 595 homes valued at $85.2 million from 535 homes valued at $78.3 million on Oct. 31, 1992.
 Geaton A. DeCesaris Jr., the company's president and chief executive officer, stated: "Our first fiscal quarter's operating results mark the ninth consecutive quarter that we have surpassed both deliveries and backlog from the previous comparable quarter. As consumer confidence continues to improve and our new communities open for sales, we expect to maintain this trend." The company expects to announce the first quarter financial results in mid-November.
 Washington Homes designs, builds and markets single family detached homes, townhomes and condominiums. It is a leading provider of moderately priced, quality homes in the Washington and Baltimore metropolitan areas.
 Shares of Washington Homes common stock are traded on the NASDAQ National Market System under the symbol "WHIN."
 -0- 11/8/93
 /CONTACT: Geaton A. DeCesaris Jr. of Washington Homes, 301-772-8900/
 (WHIN)


CO: Washington Homes, Inc. ST: Maryland IN:S?T SU:

KD-IH -- DC031 -- 1878 11/08/93 15:34 EST
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:Nov 8, 1993
Words:290
Previous Article:FIDELITY FEDERAL SAVINGS BANK TO OFFER JEANIE SERVICES
Next Article:SOUTH AFRICAN SUPREME COURT RULES FOR NINTENDO IN MAJOR VICTORY AGAINST VIDEO GAME PIRATES
Topics:

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