Hovnanian Enterprises Second Quarter 2012

Quarter Three

Fiscal Year


$1.8 M +101.7%

$16.5 M +64.3%

Home Deliveries

1,207 +25%

2,219 +19.4%

New Orders

1,775 +52.2%

2,854 +41.6%


Behind the Numbers:

The first spring sales lift of any consequence in years helped Hovnanian turn a profit in the second quarter. So did a debt reduction, a strong increase in gross margins, and reductions in overhead. But sales was Hovnanian’s shining accomplishment. It sold more homes in each of its communities in April than it has in any month since spring of 2007, excluding September of 2007.

"As evidenced by our four consecutive quarters of year-over-year net contract growth for the first time since 2006, we are encouraged that the home building industry may be entering the early stages of a recovery," said CEO Ara Hovnanian.