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M I Homes Inc (MHO) SEC Filing 10-K Annual report for the fiscal year ending Sunday, December 31, 2017

M I Homes Inc

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CIK: 1814974 Ticker: MHO


Exhibit 99.1
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M/I Homes Reports
Fourth Quarter and Year-End Results


Columbus, Ohio (February 1, 2018) - M/I Homes, Inc. (NYSE:MHO) announced results for its fourth quarter and year ended December 31, 2017.

2017 Fourth-Quarter Results:
•
New contracts increased 22% to a record 1,220 contracts
•
Revenue increased 19% to a record $621.7 million
•
Homes delivered increased 12% to 1,584 - the highest in ten years
•
Pre-tax income increased to $34.1 million from $33.7 million in 2016; including $7.7 million and $4.0 million of impairment charges, respectively; excluding impairment charges, pre-tax income improved 11% to $41.8 million
•
Net income of $15.9 million ($0.53 per diluted share), including a deferred tax asset re-measurement charge of $6.5 million ($0.21 per diluted share) as a result of the Tax Cuts and Jobs Act; 2016 net income was $20.6 million ($0.67 per diluted share)
•
Diluted earnings per share increased 20% to $0.90 per share excluding the impact of the deferred tax asset re-measurement and the impact of the impairment charges in each year
•
Backlog sales value increased 15% to $791 million, and backlog units increased 12%

2017 Full-Year Results:
•
Record revenue of $1.96 billion, an increase of 16%
•
Record homes delivered of 5,089, a 14% increase
•
Record new contracts of 5,299, an increase of 11%
•
Pre-tax income of $120.3 million, a 31% increase compared to $91.8 million in 2016
•
Pre-tax income in 2017 increased 19% to $136.5 million from $115.2 million in 2016, excluding stucco-related repair and impairment charges in each year
•
Net income of $72.1 million ($2.26 per diluted share) compared to $56.6 million ($1.84 per diluted share) in 2016
•
Diluted earnings per share were $2.88 compared to $2.32 per share in 2016 - a 24% increase, excluding the impact of the deferred tax asset re-measurement and a $2.3 million equity adjustment related to the 2017 redemption of preferred shares in the third quarter of 2017, along with stucco-related repair and impairment charges in each year

For the fourth quarter of 2017, the Company reported net income of $15.9 million, or $0.53 per diluted share. This compares to net income of $20.6 million, or $0.67 per diluted share, in 2016. For the year ended December 31, 2017, the Company reported net income of $72.1 million, or $2.26 per diluted share, compared to net income of $56.6 million or $1.84 per diluted share in 2016. 2017’s net income includes the impact of a deferred tax asset re-measurement ($6.5 million), after-tax stucco-related repair costs ($5.4 million) and after-tax impairment charges


The following information was filed by M I Homes Inc (MHO) on Thursday, February 1, 2018 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside M I Homes Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Dei Document
Consolidated Balance Sheets
Consolidated Balance Sheets (parentheticals)
Consolidated Statement Of Shareholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Business Segments
Business Segments Business Segments (details)
Business Segments Business Segments (tables)
Business Segments Business Segments - Assets (details)
Business Segments Business Segments - Textuals (details)
Capitalized Interest Rollfoward (details)
Commitments And Contingencies
Commitments And Contingencies Commitments And Contingencies (details)
Commitments And Contingencies Commitments And Contingencies (tables)
Commitments And Contingencies Legal (details)
Commitments And Contingencies Warranty Rollforward (details)
Community Development District Infrastructure And Related Obligations
Community Development District Infrastructure And Related Obligations Community Development District Infrastructure And Related Obligations (details)
Community Development District Infrastructure And Related Obligations Community Development District Infrastructure And Related Obligations (tables)
Debt
Debt Debt (details)
Debt Debt (tables)
Debt Debt Maturities (details)
Debt Mif Warehousing Agreement (details)
Debt Notes Payable - Other (details)
Debt Senior Notes (details)
Earnings Per Share
Earnings Per Share Earnings Per Share (details)
Earnings Per Share Earnings Per Share (tables)
Earnings Per Share Earnings Per Share (textuals) (details)
Estimated Useful Life (details)
Fair Value Measurements
Fair Value Measurements (loss) Gain On Assets And Liabilities Measured On A Recurring Basis (details)
Fair Value Measurements Assets And Liabilities Measured On A Non-recurring Basis (details)
Fair Value Measurements Assets And Liabilities Measured On A Recurring Basis (details)
Fair Value Measurements Balance Sheet Location Of Financial Instruments (details)
Fair Value Measurements Fair Value Measurements (tables)
Fair Value Measurements Fair Value Of Financial Instrument Assumptions (details)
Fair Value Measurements Financial Instruments (details)
Fair Value Measurements Notional Amount Of Financial Instruments (details)
Guarantees And Indemnifications
Guarantees And Indemnifications Guarantees (details)
Income Taxes
Income Taxes Benefit From Income Taxes (details)
Income Taxes Deferred Tax Assets And Liabilities (details)
Income Taxes Income Tax Disclosure (details)
Income Taxes Income Tax Reconciliation Of Effective Tax Rate (details)
Income Taxes Income Taxes (tables)
Income Taxes Net Operating Loss Carryforwards (details)
Inventory
Inventory (details)
Inventory Inventory (tables)
Inventory Model Home Accumulated Depreciation (details)
Inventory Other Inventory Items - Homes Under Construction Not Subject To A Sale Contract (details)
Investment In Joint Venture Arrangements
Investment In Joint Venture Arrangements Investment In Joint Venture Arrangements (details)
Investment In Joint Venture Arrangements Investment In Joint Venture Arrangements (tables)
Investment In Joint Venture Arrangements Investment In Joint Venture Arrangements Balance Sheet Information (details)
Investment In Joint Venture Arrangements Investment In Joint Venture Arrangements Income Statement Information (details)
Lease Commitments
Lease Commitments Lease Commitments (details)
Other Liabilities (details)
Preferred Shares
Preferred Shares Preferred Shares (details)
Property And Equipment (details)
Self-insurance (details)
Stock Based Compensation
Stock Based Compensation (tables)
Stock Based Compensation Fair Value Assumptions For Stock Options (details)
Stock Based Compensation Performance Share Units (details)
Stock Based Compensation Profit Sharing Plan (details)
Stock Based Compensation Stock Based Compensation (details)
Stock Based Compensation Summary Of Stock Option Activity (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies Other Assets (details)
Summary Of Significant Accounting Policies Variable Interest Entities And Unconsolidated Joint Ventures (details)
Supplemental Guarantor Information
Supplemental Guarantor Information Supplemental Guarantor Information - Income Statement (details)
Supplemental Guarantor Information Supplemental Guarantor Information (tables)
Supplemental Guarantor Information Supplemental Guarantor Information - Balance Sheet (details)
Supplemental Guarantor Information Supplemental Guarantor Information - Statements Of Cash Flows (details)
Supplementary Financial Data
Supplementary Financial Data Supplementary Financial Data (details)
Supplementary Financial Data Supplementary Financial Data (tables)
Transactions With Related Parties
Transactions With Related Parties Transactions With Related Parties (details)
Ticker: MHO
CIK: 799292
Form Type: 10-K Annual Report
Accession Number: 0000799292-18-000009
Submitted to the SEC: Fri Feb 16 2018 9:46:04 AM EST
Accepted by the SEC: Fri Feb 16 2018
Period: Sunday, December 31, 2017
Industry: Operative Builders

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