LGI Homes (LGIH) Tops Q1 EPS by 5c
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LGI Homes, Inc. Reports First Quarter 2016 Results
May 10, 2016 7:02 AM EDTTHE WOODLANDS, Texas, May 10, 2016 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (Nasdaq: LGIH) today announced results for the first quarter ended March 31, 2016.
First Quarter 2016 Highlights and Comparisons to First Quarter 2015
Net Income of $11.7 million, or $0.58 Basic EPS and $0.57 Diluted EPSNet Income Before Income Taxes increased 52.1% to $17.8 millionHome Closings increased 25.8% to 844 homesHome Sales Revenues increased 34.6% to $162.5 millionAverage Home Sales Price increased 7.0% to $192,491Adjusted Gross Margin (non-GAAP) as a Percentage of Home Sales Revenues was 26.7% as compared to 27.8%Active Selling Communities at... More