M.D.C. Holdings Q4 Profit Rises, Beats Estimates - Quick Facts

(RTTNews) - Homebuilder M.D.C. Holdings Inc. (MDC) reported Wednesday that its fourth-quarter net income increased to $30.71 million or $0.62 per share from last year's $29.67 million or $0.59 per share.

On average, 12 analysts polled by Thomson Reuters expected earnings of $0.59 per share for the quarter. Analysts' estimates typically exclude special items.

Total home and land sale revenues increased to $461.58 million from $390.87 million a year ago. Analysts expected revenues of $434.20 million.

Home sale revenues increased 18 percent to $460.9 million, resulted from a 3 percent increase in homes delivered to 1,252 homes and a 16 percent increase in average selling price to $368,000.

Gross margin from home sales grew 70 basis points to 17.4 percent.

Meanwhile, net new orders declined 13 percent to 752 homes, on an 8 percent decrease in average active community count. Dollar value of new orders also declined 2 percent to $285.2 million.