Brookfield Homes Announces First Quarter Net New Orders, and Notice of First Quarter Conference Call And Webcast
Wednesday April 5, 4:42 pm ET
DEL MAR, CALIFORNIA--(MARKET WIRE)--Apr 5, 2006 -- Brookfield Homes Corporation (NYSE:BHS - News) -
Net New Orders
Net new orders for the quarter ended March 31, 2006 totaled 227 units, compared to 517 units in the first quarter of 2005. A summary by region of the net new orders and active selling communities follows:
Net New Orders Active Selling Communities
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2006 2005 2006 2005
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San Francisco Bay Area 15 63 1 3
Southland / Los Angeles 103 94 4 5
San Diego / Riverside 40 159 7 6
Washington D.C. Area 69 201 12 13
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227 517 24 27
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ADVERTISEMENT
The decline in net new orders was primarily in the San Diego/Riverside and Washington D.C. markets with 251 fewer net new orders, when compared to the first quarter of 2005, resulting from a slower, and more competitive market environment. The decline of 48 units in net new orders in the San Francisco Bay Area market is a result of fewer homes available for sale with only one active selling community. In January 2006, the company forecasted 3,125 home and bulk lot closings for 2006. With the current San Diego/Riverside and Washington D.C. market conditions, it will be mid-summer 2006 when a better assessment of the 2006 home closings will be made. The company continues to anticipate bulk lot sale closings of 1,500 units during 2006, of which 386 units have been closed to date for net income of $13 million or $0.46 per share.
Webcast and Conference Call for Investors and Analysts
You are invited to participate in Brookfield Homes' First Quarter Conference Call on Thursday, May 4, 2006 at 10:00 a.m. (ET) to discuss with members of senior management our results and current business initiatives.
Brookfield Homes will release its 2006 first quarter financial results on Wednesday, May 3rd at approximately 2:00 p.m. (EST), and they will be available on our website at www.brookfieldhomes.com under "Investor Relations - Press Releases." Our supplemental information package will also be available under "Investor Relations - Financial Reports and Investor Presentations." The Conference Call will also be Webcast live on our website, where it will be archived for future reference. |
