M.D.C. Holdings Third Quarter 2012 Numbers
Behind the Numbers:
M.D.C. Holdings posted its third quarter of profitability on Thursday, helped by some sturdy improvement in deliveries and a contribution from its financial services arm of $9.3 million made possible by more mortgages at greater profits. The only cloud on M.D.C.’s horizon is its ability to find land it can build on at a decent profit. Its lot count dropped by just under 6% over the quarter. However CEO Larry Mizel stressed in the earnings release that a greater share of M.D.C.’s lots are ready to go versus in need of further development.
M.D.C. Holdings’ fiscal year ends December 31.