-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VcMhYAy02RtlGLwOZFQTPBvUs58zUiecHHmA63Zvye/804f1tl8BAGX3v4Vkc6V1 YsX084Kxg8SJ08rl3dkJpg== 0000950153-97-000039.txt : 19970114 0000950153-97-000039.hdr.sgml : 19970114 ACCESSION NUMBER: 0000950153-97-000039 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970111 ITEM INFORMATION: Other events FILED AS OF DATE: 19970113 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEBB DEL CORP CENTRAL INDEX KEY: 0000105189 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 860077724 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04785 FILM NUMBER: 97504609 BUSINESS ADDRESS: STREET 1: 6001 NORTH 24TH STREET CITY: PHOENIX STATE: AZ ZIP: 85016 BUSINESS PHONE: 6028088000 MAIL ADDRESS: STREET 1: 6001 NORTH 24 STREET CITY: PHOENIX STATE: AZ ZIP: 85016 FORMER COMPANY: FORMER CONFORMED NAME: WEBB DEL E CORP DATE OF NAME CHANGE: 19880728 8-K 1 FORM 8-K FOR THE PERIOD ENDING 01/11/97 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JANUARY 11, 1997 DEL WEBB CORPORATION DELAWARE 86-0077724 (STATE OR OTHER JURISDICTION 1-4785 (I.R.S. EMPLOYER OF INCORPORATION) (COMMISSION FILE NUMBER) IDENTIFICATION NUMBER) 6001 NORTH 24th STREET PHOENIX, ARIZONA 85016 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (602) 808-8000 NONE (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT) 2 Item 5. Other Events Exhibit 1.1 hereto is a press release of Del Webb Corporation, dated January 11, 1997, which is incorporated herein by reference. Item 7. Financial Statements and Exhibits. Exhibits -------- 1.1 Press release dated January 11, 1997. 2 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DEL WEBB CORPORATION By: ROBERTSON C. JONES ---------------------------------- Robertson C. Jones Vice President and General Counsel January 13, 1997 3 4 EXHIBIT INDEX
SEQUENTIALLY EXHIBIT NO. DESCRIPTION NUMBERED PAGE - ----------- ----------- ------------- 1.1 Press Release dated January 11, 1997 5
EX-1.1 2 PRESS RELEASE DATED 01/11/97 1 Contact: John Spencer (602) 808-8008(o) Don Mickus (602) 808-8004(o) FOR IMMEDIATE RELEASE DEL WEBB ANNOUNCES SECOND QUARTER INCREASES IN ORDERS, CLOSINGS Phoenix, AZ (Jan. 11, 1997) (WBB:NYSE/PSE) -- Del Webb Corporation announced today that net new orders for its second quarter ended December 31, 1996 increased 5.8%, to 1,310 net new orders, compared with 1,238 net new orders for the comparable quarter in the prior year. The increase in net new orders for the second quarter was due primarily to the 40.9% increase in net new orders at the Sun Cities Phoenix, which was a result of new order activity associated with the opening of Sun City Grand in October 1996. Home closings for the second quarter totaled 1,513, a 25.4% increase from 1,207 closings for the comparable quarter in the prior year. Consistent with the Company's experience in the quarter ended September 30, 1996, there was an increase in closings at newer communities in the second quarter which, as is common with newer communities, is expected to result in a decrease in the average revenue and gross margin per home closing. As a result, the increase in home closings in the second quarter is not expected to result in an increase in earnings over the comparable period in the prior year. 2 For the six months ended December 31, 1996, net new orders increased to 2,441, up 1.6% from 2,402 net new orders for the comparable period in the prior year. Home closings increased 26.4% for the six month period, to 2,895 closings from 2,290 closings for the comparable period in the prior year. Backlog at December 31, 1996 totaled 2,745 homes under contract, a decrease of 8.3% from a backlog of 2,992 at December 31, 1995. Del Webb Corporation, based in Phoenix, is one of the nation's leading builders of active adult communities for people 55 and older, with Sun Cities near Phoenix and Tucson, Arizona; Las Vegas, Nevada; Palm Desert and Roseville, California; Hilton Head, South Carolina; and Georgetown, Texas. It also builds homes at Terravita, a recreation-oriented community for people of all ages in Scottsdale, Arizona; and builds conventional housing in Phoenix, Tucson and north-central Arizona; Las Vegas, Nevada; and southern California. The statements in this release relating to the financial results for the quarter ended December 31, 1996 are forward-looking statements and actual results may differ from those projected or implied. 3 DEL WEBB CORPORATION AND SUBSIDIARIES CERTAIN CONSOLIDATED FINANCIAL AND OPERATING DATA
Three Months Ended Six Months Ended December 31, Change December 31, Change - -------------------------------------------------------------------------------------------------------------------------------- 1996 1995 Amount Percent 1996 1995 Amount Percent - -------------------------------------------------------------------------------------------------------------------------------- OPERATING DATA: Number of net new orders: Sun Cities Phoenix (1) 348 247 101 40.9% 622 404 218 54.0% Sun City Tucson 14 30 (16) (53.3%) 38 71 (33) (46.5%) Sun Cities Las Vegas (2) 270 283 (13) (4.6%) 479 510 (31) (6.1%) Sun City Palm Desert 51 37 14 37.8% 65 67 (2) (3.0%) Sun City Roseville 96 102 (6) (5.9%) 194 252 (58) (23.0%) Sun City Hilton Head 60 89 (29) (32.6%) 136 149 (13) (8.7%) Sun City Georgetown 92 44 48 109.1% 193 175 18 10.3% Terravita 75 91 (16) (17.6%) 103 147 (44) (29.9%) Coventry Homes 304 315 (11) (3.5%) 611 627 (16) (2.5%) - -------------------------------------------------------------------------------------------------------------------------------- Total 1,310 1,238 72 5.8% 2,441 2,402 39 1.6% ================================================================================================================================ Number of home closings: Sun Cities Phoenix (1) 266 208 58 27.9% 498 404 94 23.3% Sun City Tucson 24 69 (45) (65.2%) 79 135 (56) (41.5%) Sun Cities Las Vegas (2) 278 172 106 61.6% 531 369 162 43.9% Sun City Palm Desert 50 50 - - 93 93 - - Sun City Roseville 155 167 (12) (7.2%) 328 311 17 5.5% Sun City Hilton Head 110 87 23 26.4% 185 109 76 69.7% Sun City Georgetown 144 N/A 144 N/A 287 N/A 287 N/A Terravita 103 122 (19) (15.6%) 187 231 (44) (19.0%) Coventry Homes 383 332 51 15.4% 707 638 69 10.8% - -------------------------------------------------------------------------------------------------------------------------------- Total 1,513 1,207 306 25.4% 2,895 2,290 605 26.4% ================================================================================================================================ BACKLOG DATA: Homes under contract at December 31: Sun Cities Phoenix (1) 677 502 175 34.9% Sun City Tucson 4 85 (81) (95.3%) Sun Cities Las Vegas (2) 590 543 47 8.7% Sun City Palm Desert 84 121 (37) (30.6%) Sun City Roseville 243 512 (269) (52.5%) Sun City Hilton Head 144 189 (45) (23.8%) Sun City Georgetown 284 297 (13) (4.4%) Terravita 220 214 6 2.8% Coventry Homes 499 529 (30) (5.7%) - ----------------------------------------------------------------------------------- Total 2,745 2,992 (247) (8.3%) =================================================================================== Aggregate contract sales amount (dollars in millions) $ 537 $ 569 $ (32) (5.6%) =================================================================================== Average contract sales amount per home (dollars in thousands) $ 196 $ 190 $ 6 3.2% ===================================================================================
(1) Includes Sun City West and Sun City Grand. (2) Includes Sun City Summerlin and Sun City MacDonald Ranch. -----END PRIVACY-ENHANCED MESSAGE-----