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Hovnanian Enterprises Reports Fiscal 2018 Results

Hovnanian Enterprises, Inc (HOV)  More Company Research Source: GlobeNewswire
US:NYSE Investor Relations: khov.com/investor-relations
PDF Reported Fourth Quarter Net Income of $46 MillionExceeded or Met GuidanceConsolidated Lots Controlled Grew 20% Year-over-Year MATAWAN, N.J., Dec. 06, 2018 (GLOBE NEWSWIRE) -- Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal fourth quarter and year ended October 31, 2018. “We are pleased to report solid performance in our fourth quarter. We exceeded or met our guidance for total revenues, gross margin, SG&A expense ratio and adjusted pretax profits,” stated Ara K. Hovnanian, Chairman of the Board, President and Chief Executive Officer. “Given the recent consumer hesitation in purchasing homes, we remain cautious and are carefully evaluating current market conditions when underwriting new land acquisitions. Nonetheless, we continue to move forward with our goal of increasing our community count. Our total consolidated lots controlled at the end of the fourth quarter expanded 20% year over year.” “We recognize that there has be [Read more]

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