M/I Homes Second Quarter 2012 Numbers

Quarter Two

Fiscal Year

Profit/(Loss)

$ 3.2 M  +135.0%

$.018 M  +100%

Home Deliveries

625 +5.9%

1,132  +10.0%

New Orders

826  +30.0%        

1,590  +23.4%

 

Behind the Numbers:

M/I turned a profit in its second quarter, essentially canceling out its first quarter loss and bringing the company to near break-even for the first half of 2012. More encouraging was a 30% jump in new orders, close to the order gains other public builders are reporting for the second quarter. M/I also pointed out that the quarter was its 12th consecutive quarter of increased earnings before interest, taxes, depreciation, and amortization. However, the company’s cash balance has dropped by a half in the last year to a relatively low balance of nearly $57 million.

 

M/I Homes’ fiscal year ends Dec. 31.