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AV Homes, Inc. Announces First Quarter Results

Stocks in this article: AVHI

(2)  Includes impairment charges for inventory of approximately $0 and $152 for the three months ended March 31, 2013 and 2012, respectively.

(3) Includes homebuilding revenues of $9,933 and amenity revenues of $609 for the three months ended March 31, 2013.

Data from closings for the active adult and primary residential homebuilding segments for the three months ended March 31, 2013 and 2012 is summarized as follows:

For the three months ended March 31, Number of Units Revenues Average Price Per Unit
       
2013      
Active adult communities 39  $ 10,222  $ 262
Primary residential 42 9,933  $ 237
Total 81  $ 20,155  $ 249
       
2012      
Active adult communities 32  $ 7,984  $ 250
Primary residential 31 6,698  $ 216
Total 63  $ 14,682  $ 233

Data from contracts signed for the active adult and primary residential homebuilding segments for the three months ended March 31, 2013 and 2012 is summarized as follows:

  Gross Number   Contracts Signed,   Average
  of Contracts   Net of Dollar Price Per
For the three months ended March 31,  Signed Cancellations Cancellations Value Unit
           
2013          
Active adult communities 97 (13) 84 $ 19,038  $ 227
Primary residential 72 (21) 51 10,353  $ 203
Total 169 (34) 135 $ 29,391  $ 218
           
2012          
Active adult communities 66 (24) 42 $ 10,536  $ 251
Primary residential 75 (11) 64 12,668  $ 198
Total 141 (35) 106 $ 23,204  $ 219

Backlog for the active adult and primary residential homebuilding segments as of March 31, 2013 and 2012 is summarized as follows:

  Number of Dollar Average Price
As of March 31, Units Volume Per Unit
       
2013      
Active adult communities 108 $ 25,440  $ 236
Primary residential 131 27,713  $ 212
Total 239 $ 53,153  $ 222
       
2012      
Active adult communities 55 $ 14,243  $ 259
Primary residential 86 15,819  $ 184
Total 141 $ 30,062  $ 213
CONTACT: Media Contact: Ken Plonski
         480-214-7408
         k.plonski@avhomesinc.com

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