LGI Homes (LGIH) Tops Q1 EPS by 1c
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LGI Homes, Inc. Reports First Quarter 2017 Results
May 9, 2017 7:00 AM EDTTHE WOODLANDS, Texas, May 09, 2017 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (Nasdaq: LGIH) today announced results for the first quarter ended March 31, 2017.
First Quarter 2017 Results and Comparisons to First Quarter 2016
Net Income of $11.8 million, or $0.55 Basic EPS and $0.52 Diluted EPSNet Income Before Income Taxes decreased 5.5% to $16.8 millionHome Sales Revenues increased 0.3% to $162.9 millionHome Closings decreased 9.8% to 761 homesAverage Home Sales Price increased 11.2% to $214,075Gross Margin as a Percentage of Homes Sales Revenues was 26.7% as compared to 25.5%Adjusted Gross Margin (non-GAAP) as a Percentage of Home Sales Revenues was... More