M/I Homes First Quarter 2012 Numbers

Quarter One


($3.2) M +81.3% YOY

Home Deliveries

507+15.5% YOY

New Orders

764 +16.8% YOY


Behind the Numbers:

M/I lost money in its first quarter, but a whole lot less than it did in the first quarter of 2011.  While sales orders took a hop upward, what looks most promising is the company’s expanded 18.1% gross margin which was at its highest  first-quarter level in five years. The company's shift to better-performing locations is to credit for most of the margin improvement, the company said.

M/I Homes’ fiscal year ends Dec. 31.