AV Homes (formerly Avatar Homes) Fourth Quarter 2011 Numbers

Quarter Four

Fiscal Year


($17.7 M) -82.5%

($165.8 M) -365.0%

Home Deliveries

56 -11.1%

174 -5.4%

New Orders

915 +17.9%     

3,954 +6.9%


Behind the Numbers:

AV Homes, which recently changed its name from Avatar Homes, finally released its final earnings results for 2011. It’s understandable why the company was late. The Florida-based builder made extensive changes last year that go far deeper than a name change. It has new leadership under CEO Allen J. Anderson. It has closed its long-time headquarters in Coral Gables, Fla. It’s created a new strategic plan for the company, which builds in Arizona and Florida. And it’s shed half its workforce, outsourcing a lot of activities related to the maintenance of its communities’ ongoing amenities. So it’s hard to fault the company for falling profits and sales in a year when it is practically re-forging itself from scratch. AV Homes plans to keep itself going until the changes are made by selling off some of its considerable non-core assets in Central Florida, where it owns about 17,000 acres. “These asset sales will generate cash flow, reduce carry costs, and allow for reinvestment consistent with our longer term strategies,” Anderson said in the company’s earnings announcement.

AV Homes’ fourth quarter and fiscal year ended December 31.

Learn more about markets featured in this article: Orlando, FL, Anderson, IN.