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WILLIAM LYON HOMES REPORTS FOURTH QUARTER AND FULL YEAR 2016 RESULTS
30% INCREASE IN HOMEBUILDING REVENUE; 20% INCREASE IN DELIVERIES; AND 18% INCREASE IN PRE-TAX INCOME, FOR THE FULL YEAR 2016
NEWPORT BEACH, CA February 22, 2017 William Lyon Homes (NYSE: WLH), a leading homebuilder in the Western U.S., announced results for the fourth quarter and year ended December 31, 2016.
2016 Fourth Quarter Highlights (Comparison to 2015 Fourth Quarter)
|||Net income available to common stockholders of $23.1 million, or $0.60 per diluted share|
|||Home sales revenue of $473.2 million, up 19%|
|||New home deliveries of 902 homes, up 11%|
|||Dollar value of orders of $284.1 million, up 17%|
|||Net new home orders of 564, up 9%|
|||Dollar value of homes in backlog of $410.7 million, up 5%|
|||Units in backlog of 733, down 1%|
|||Average sales locations of 79, up 7%|
|||Average sales price (ASP) of new homes delivered of $524,600, up 7%|
|||Homebuilding gross margin of $80.6 million, up 11%|
|||Homebuilding gross margin percentage of 17.0%|
|||Adjusted homebuilding gross margin percentage of 21.6%|
|||SG&A percentage of 9.0%, compared to 9.3%|
|||Pre-tax Income of $40.4 million, up 6%|
|||Adjusted EBITDA of $63.2 million, up 2%|
The following information was filed by William Lyon Homes (WLH) on Wednesday, February 22, 2017 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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