M/I Homes Q4 Profit Rises 15%, Revenue Up 16%

(RTTNews) - M/I Homes, Inc. (MHO), a builder of single-family homes, reported Wednesday that net income for the fourth quarter increased to $130.40 million or $4.65 per share from $113.38 million or $3.83 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $5.15 per share, compared to $3.83 per share in the year-ago quarter.

Total revenue for the quarter grew 16 percent to an all-time quarterly record of $1.22 billion from $1.05 billion in the same quarter last year.

Homes delivered for the quarter increased 3 percent to 2,384, an all-time quarterly record. However, new contracts for the quarter decreased 44 percent to 985 from last year.

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