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The New Home Company Reports 2021 first Quarter Results

The New Home Company Reports 2021 first Quarter Results
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Landsea Homes Reports Fourth Quarter and Full Year 2020 Results, Reiterates Strong 2021 Outlook

Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Landsea Homes Reports Fourth Quarter and Full Year 2020 Results, Reiterates Strong 2021 Outlook
Landsea HomesMarch 11, 2021 GMT
NEWPORT BEACH, Calif., March 11, 2021 (GLOBE NEWSWIRE) Landsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes” or the “Company”), a publicly traded residential homebuilder, reported financial results for the fourth quarter and full year ended December 31, 2020.
Fourth Quarter 2020 Summary vs. Same Year-Ago Quarter
Total revenue was $284.7 million compared to $286.1 million.
Excluding lot sales from total revenue, total home sales increased 3% to $284.7 million compared to $275.2 million.
Total homes delivered increased 111% to 587 homes compared to 278. ....

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The New Home Company Reports 2020 Fourth Quarter and Full Year Results

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The New Home Company Inc. (NYSE: NWHM) today announced results for the 2020 fourth quarter and full year.
Fourth Quarter 2020 Financial Results
Net orders up 89%, monthly sales absorption rate increased 68% to 3.7 compared to 2.2 in the prior year
Unit backlog up 175%, dollar value of homes in backlog increased 88% compared to last year to $236.0 million
Total revenues of $145.6 million and home sales revenue of $135.4 million
Homebuilding gross margin of 14.8% compared to 7.8% in the prior year, including impairments in prior year
Adjusted gross margin excluding interest in cost of sales and impairments improved 260 basis points to 19.4% compared to 16.8% in the prior year ....

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