Exhibit 99.1

 

LOGO

TRI POINTE HOMES, INC. REPORTS 2013 FOURTH QUARTER AND FULL YEAR RESULTS

-Reports Record Quarterly and Full Year Home Sales Revenue and Earnings-

-Announced Agreement to Combine with the Weyerhaeuser Real Estate Company (“WRECO”)-

Irvine, California, February 27, 2014 /Business Wire/ – TRI Pointe Homes, Inc. (NYSE: TPH) today announced record results for the fourth quarter and full year ended December 31, 2013.

2013 Fourth Quarter Highlights and Comparisons to the 2012 Fourth Quarter

 

    Net income was $8.3 million, or $0.26 per diluted share compared to net income of $6.4 million, or $0.30 per diluted share

 

    Diluted earnings per share was $0.33* for the 2013 fourth quarter excluding expenses associated with the WRECO transaction

 

    New home orders increased 17% to 88 compared to 75

 

    Active selling communities averaged 8.3 compared to 7.0

 

    New home orders per average selling community were 10.6 orders (3.53 monthly) compared to 10.7 orders (3.57 monthly)

 

    Cancellation rate remained consistent at 16%

 

    Backlog increased 119% to 149 homes with a dollar value increase of 235%, to $111.6 million

 

    Average sales price in backlog increased 53% to $749,000

 

    Home sales revenue of $119.0 million, an increase of 116%

 

    New homes deliveries of 166, up 87%

 

    Average sales price of homes delivered grew 16% to $717,000

 

    Homebuilding gross margin percentage of 23.0%, an increase of 280 basis points

 

    Acquired 758 lots valued at $111.4 million and contracted an additional 349 controlled lots

 

    Ratio of debt to capital of 30.0% as of December 31, 2013

2013 Fiscal Year Highlights and Comparisons to the 2012 Fiscal Year

 

    Net income was $15.4 million, or $0.50 per diluted share compared to net income of $2.5 million, or $0.12 per diluted share

 

    Diluted earnings per share was $0.58* for the 2013 fiscal year excluding expenses associated with the WRECO transaction

 

    New home orders increased 134% to 477 compared to 204

 

    Home sales revenue was $247.1 million compared to $77.5 million

 

    New home deliveries of 396, up 175%

 

    Average sales price of homes delivered grew 16% to $624,000

 

    Homebuilding gross margin percentage of 21.9%, an increase of 410 basis points

 

    SG&A expense as a percentage of homes sales revenue improved to 10.3% compared to 14.7%

 

* See “Reconciliation of Non-GAAP Financial Measures” beginning on page 12


The following information was filed by Tri Pointe Group, Inc. (TPH) on Thursday, February 27, 2014 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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