This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

AV Homes, Inc. Announces First Quarter Results

Stocks in this article: AVHI

SCOTTSDALE, Ariz., May 8, 2013 (GLOBE NEWSWIRE) -- AV Homes, Inc. (Nasdaq:AVHI) a developer and builder of active adult and conventional home communities in Arizona and Florida, today announced results for its first quarter ended March 31, 2013.

The Company reported a net loss $4.8 million, or 38 cents per diluted share, on revenues of $25.1 million for the three months ended March 31, 2013, compared to a net loss of $8.5 million, or 68 cents per diluted share, on revenues of $26.7 million for the three months ended March 31, 2012.

During the three months ended March 31, 2013, the Company closed on 81 homes, a 29% increase from the 63 homes closed during the first three months of 2012. The dollar volume of these closings increased 37% to $20.2 million, compared to a dollar volume of $14.7 million during the same period in 2012.

The number of housing contracts signed, net of cancellations, during the three months ended March 31, 2013 increased 27% to 135 units, compared to 106 units during the same period in 2012. The dollar value of the contracts signed during the first quarter increased 27% to $29.4 million, compared to $23.2 million during the same period one year ago. The backlog of homes under contract but not yet closed at March 31, 2013 increased 70% to 239 units, representing a dollar volume of $53.2 million, compared to 141 units with a dollar volume of $30.1 million at March 31, 2012.

The overall average unit price per closing rose 7% from $233,000 in the first quarter of 2012 to $249,000 in the first quarter of 2013. The average sales price of new contracts decreased slightly from $219,000 to $218,000 due primarily to a mix of lower priced homes sold in the Company's active adult division.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs