To: Crimson Ghost who wrote (27599 ) 3/2/2005 12:17:01 PM From: russwinter Read Replies (2) | Respond to Is it just me, or is this a bogus my dog ate the homework excuse? I was in So. Calf during some of this weather, and by contrast it was like a pleasant day in Oregon in February. I'll bet more houses are flipping back out of escrow (due to "unexpected" rate increases). I count 20 (in comparison to 106 new pending transactions) back out of escrow year to date in the "hot" downtown San Diego market. Are we now entering the "white lies", as we know everything will return to normal phase of the cycle?:sdcondo.com construction and development delays resulting from adverse weather conditions have occurred in several of its markets, most notably Southern California, Nevada and Arizona. As a result, approximately 200 home closings originally scheduled for the first quarter of 2005 may be delayed to later periods. The Company believes that the impact of these delayed home closings may cause earnings per share for the first quarter of 2005 to be slightly below the low end of analyst estimates for the quarter of $1.80 per share, which represents a 30% increase from the same period in 2004. MDC anticipates that the affected divisions can recover from these weather-related challenges and recapture the delayed closings by the latter half of 2005. Therefore, although the total year results may be more back-end loaded than previously anticipated, MDC's expectations for record full year 2005 revenues and earnings remain essentially unchanged.
