Legacy Housing Corp (LEGH) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Legacy Housing Corp

CIK: 1436208 Ticker: LEGH

Exhibit 99.1


Legacy Housing Corporation Reports Second Quarter 2021 Financial Results

BEDFORD, Texas, August 9, 2021 (GLOBE NEWSWIRE) -- Legacy Housing Corporation (NASDAQ: LEGH) today announced its financial results for the second quarter ended June 30, 2021.  

Financial Highlights:

Revenue was $48.6 million, an increase of 5.6% from 2020 Q2 record revenue of $46.0 million.
Earnings were $12.4 million, an increase of 23.8% from 2020 Q2 strong earnings of $10.0 million.
Per-share earnings were $.51, an increase of 24.4% from 2020 Q2 per-share earnings of $.41.
Per-share book value was $11.59, an increase of 17.1% from 2020 Q2 per-share book value of $9.90.
Increases in revenue, earnings, and book value were all achieved solely from organic growth.

Curtis D. Hodgson, Executive Chairman of the Board, commented, “This was the most profitable quarter in our history. Maybe lady luck has been on our side. We have suffered no setbacks from Covid, and we have continuously produced without interruption.  Our earnings have improved each and every quarter, notably both last year and this year. Our management team handles shortages every day. Our production rates are improving. Our backlog is solid. And our customers continue to be loyal. This quarter, we will be breaking ground on our large development southeast of Austin and, as well, we are making steady progress on several other significant development projects. All is good.” 

This shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Legacy Housing Corporation

Legacy Housing Corporation builds, sells and finances manufactured homes and "tiny houses" that are distributed through a network of independent retailers and company-owned stores and are sold directly to manufactured housing communities.  With current operations focused primarily in the southern United States, we offer our customers an array of quality homes ranging in size from approximately 390 to 2,667 square feet consisting of 1 to 5 bedrooms, with 1 to 3 1/2 bathrooms.  Our homes range in price, at retail, from approximately $22,000 to $140,000.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Securities and Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995.  These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control.  As a result, our actual results or performance may differ materially from anticipated results or performance. Legacy Housing

The following information was filed by Legacy Housing Corp (LEGH) on Wednesday, August 11, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Legacy Housing Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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Inside Legacy Housing Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Balance Sheets
Condensed Balance Sheets (Parenthetical)
Condensed Statements Of Cash Flows
Condensed Statements Of Changes In Stockholders' Equity
Condensed Statements Of Operations
Accrued Liabilities
Accrued Liabilities (Details)
Accrued Liabilities (Tables)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Commitments And Contingencies - Leases (Details)
Consumer Loans
Consumer Loans (Tables)
Consumer Loans - Aging Of Consumer Loans Receivable (Details)
Consumer Loans - Allowance For Loan Losses (Details)
Consumer Loans - Consumer Loans Receivable, Net (Details)
Consumer Loans - Impaired And General Reserve For Allowance For Loan Losses (Details)
Consumer Loans - Narrative (Details)
Debt - Lines Of Credit (Details)
Debt - Ppp Loans (Details)
Derivative Financial Instruments And Fair Value Measurements
Derivative Financial Instruments And Fair Value Measurements (Details)
Derivative Financial Instruments And Fair Value Measurements - Fair Value Of Financial Instruments (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Antidilutive Securities (Details)
Earnings Per Share- Tabular (Details)
Income Taxes
Income Taxes (Details)
Inventories (Details)
Inventories (Tables)
Nature Of Operations
Nature Of Operations (Policies)
Nature Of Operations (Tables)
Nature Of Operations - Accounts Receivable (Details)
Nature Of Operations - Disaggregation Of Revenue (Details)
Nature Of Operations - Future Minimum Lease Income (Details)
Nature Of Operations - Ipo And Corporate Conversion (Details)
Nature Of Operations - Leased Property (Details)
Nature Of Operations - Revenue Recognition (Details)
Notes Receivable From Mobile Home Parks
Notes Receivable From Mobile Home Parks (Details)
Other Assets
Other Assets (Details)
Other Assets (Tables)
Other Notes Receivable
Other Notes Receivable (Details)
Other Notes Receivable (Tables)
Property, Plant And Equipment
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Related Party Transactions
Related Party Transactions (Details)
Share-Based Compensation
Share-Based Compensation (Tables)
Share-Based Compensation - Plan (Details)
Share-Based Compensation - Restricted Stock Units (Details)
Share-Based Compensation - Stock Options (Details)
Share-Based Compensation - Summary Of Stock Options Activity (Details)
Subsequent Events

Material Contracts, Statements, Certifications & more

Legacy Housing Corp provided additional information to their SEC Filing as exhibits

Ticker: LEGH
CIK: 1436208
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-21-015335
Submitted to the SEC: Tue Nov 09 2021 5:20:00 PM EST
Accepted by the SEC: Tue Nov 09 2021
Period: Thursday, September 30, 2021
Industry: Mobile Homes

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