LGI Homes (LGIH) Tops Q2 EPS by 9c; Boosts FY16 EPS Outlook
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LGI Homes, Inc. Reports Record Setting Second Quarter and YTD 2016 Results and Increases EPS Guidance
August 9, 2016 7:01 AM EDTTHE WOODLANDS, Texas, Aug. 09, 2016 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (Nasdaq: LGIH) today announced results for the second quarter 2016 and the six months ended June 30, 2016.
Second Quarter 2016 Highlights and Comparisons to Second Quarter 2015
Net Income of $20.7 million, or $1.01 Basic EPS and $0.96 Diluted EPSNet Income Before Income Taxes increased 47.8% to $31.4 millionHome Closings increased 32.2% to 1,128 homesHome Sales Revenues increased 40.2% to $222.7 millionAverage Home Sales Price increased 6.0% to $197,450Gross Margin as a Percentage of Home Sales Revenues was 26.5% as compared to 26.8%Adjusted Gross... More