Meritage Homes Third Quarter 2012 Numbers

Quarter Three

Nine Months

Profit/(Loss)

$6.8M +309.7%

$10M +207.5%

Home Deliveries

1,197 +42.5%

2,998 +26.3%

New Orders

1,204 +32.9%     

3,701 +39.4%

 

Behind the Numbers:

Meritage had a profitable third quarter that would have been extraordinarily profitable if it had not had to place $8.7 million in reserve in case it loses a lawsuit over a Las Vegas joint venture project called South Edge; the company also logged $417,000 in land impairments. The third quarter was Meritage’s seventh consecutive quarter of year-over-year order increases. The company expects to close between 4,100 and 4,300 homes in 2012.

Meritage’s  fiscal year ends December 31.