Meritage Homes Corp. First Quarter 2012 Numbers |
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Quarter One |
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Profit/(Loss) |
($4.8) M +28.6% YOY |
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Home Deliveries |
759 +11.9% YOY |
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New Orders |
1,144 +36.2% YOY |
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Behind the Numbers:
Meritage only narrowed its losses in the first quarter even as it had a strong boost in sales orders. March was the company’s best sales month since June 2008. Its sales per community for the quarter jumped to 7.5 from 4.8 last year. Meanwhile, the company went on a land-buying spree, picking up about 1,300 lots for $61 million. CEO Steven Hilton said he is “confident” that 2012 will be a profitable year for the company.
Meritage Homes’ fiscal year ends Dec. 31.
