Orleans Homebuilders is reporting a fourth-quarter loss (period ending June 30) of $11.3 million, but CEO Jeffrey P. Orleans remains positive that the Bensalem, Pa.-based company will navigate itself through this rough period. More
Competition in the Philadelphia market is starting to heat up. Orleans Homebuilders, the No. 2 builder in the market in 2003, announced plans to acquire Realen Homes, which has operations in Philadelphia and Chicago. The move should expand Orleans' business in Pennsylvania and gives the East Coast builder entry into the Windy City's market. Realen delivered 429 homes in 2003, posting $145 million in revenue. Terms of the cash deal were not disclosed. More
