M.D.C. Holdings, Inc. Form 8-K 10-03-03

-----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, CH1KCjt2UbOPoH1Mgj9X6KKHYeUeW74cKe3W0MiMav929RpXtkVuXYrOPjMPUuZX vbNsZxcKYsKQF2haBp4Kmg== 0000773141-03-000010.txt : 20031002 0000773141-03-000010.hdr.sgml : 20031002 20031002111509 ACCESSION NUMBER: 0000773141-03-000010 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031002 ITEM INFORMATION: ITEM INFORMATION: Regulation FD Disclosure FILED AS OF DATE: 20031002 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MDC HOLDINGS INC CENTRAL INDEX KEY: 0000773141 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 840622967 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08951 FILM NUMBER: 03922606 BUSINESS ADDRESS: STREET 1: 3600 S YOSEMITE ST STE 900 CITY: DENVER STATE: CO ZIP: 80237 BUSINESS PHONE: 3037731100 MAIL ADDRESS: STREET 1: 3600 S YOSEMITE ST STREET 2: SUITE 900 CITY: DENVER STATE: CO ZIP: 80237 8-K 1 form8_k100203.htm M.D.C. HOLDINGS, INC. - FORM 8-K 10-02-03 M.D.C. Holdings, Inc. Form 8-K 10-03-03

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): October 2, 2003

M.D.C. Holdings, Inc.

(Exact name of registrant as specified in its charter)

Delaware
(State or other
jurisdiction of
incorporation)

1-8951
(Commission file number)

84-0622967
(I.R.S. employer
identification no.)

3600 South Yosemite Street, Suite 900, Denver, Colorado 80237

(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code: (303) 773-1100

Not Applicable

(Former name or former address, if changed since last report)

ITEM 7. EXHIBITS


Exhibit Number ____________________ Exhibit 99.1	Description _____________________________________________ Press Release dated October 2, 2003.

ITEM 9. REGULATION FD DISCLOSURE; and
ITEM 12. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On October 2, 2003, M.D.C. Holdings, Inc. reported home orders, home closings and quarter-end backlog for the quarterly period ended September 30, 2003. A copy of this press release is attached hereto as Exhibit 99.1.

Limitation on Incorporation by Reference. The information being furnished shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

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 thereunto duly authorized.

M.D.C. HOLDINGS, INC.

Dated: October 2, 2003

By: /s/ Joseph H. Fretz
________________________________
Joseph H. Fretz
Secretary and Corporate Counsel

INDEX TO EXHIBITS


Exhibit Number ____________________ Exhibit 99.1	Description _____________________________________________ Press Release dated October 2, 2003.

EX-99 3 exh99_1.txt M.D.C. HOLDINGS, INC. - THIRD QTR ORDERS Exhibit 99.1 [GRAPHIC OMITTED] NEWS BULLETIN M.D.C. HOLDINGS, INC. RICHMOND AMERICAN HOMES HOMEAMERICAN MORTGAGE FOR IMMEDIATE RELEASE THURSDAY, OCTOBER 2, 2003 - ---------------------------------------------------------------------------- Contacts: Paris G. Reece III Rachel L. Neumann Chief Financial Officer Communications Director (303) 804-7706 (303) 804-7729 greece@mdch.com rlneumann@mdch.com M.D.C. HOLDINGS REPORTS RECORD HOME ORDERS, HOME CLOSINGS AND QUARTER-END BACKLOG; CONFERENCE CALL AND WEBCAST SCHEDULED FOR OCTOBER 9 o Quarterly orders for 2,910 homes, a 19% year-over-year increase o Closed 3,113 homes, highest for any quarter and a 37% year-over-year increase o Backlog of 6,277 homes with estimated sales value of $1.650 billion o Company expects 2003 third quarter earnings to exceed highest analyst estimates DENVER, Thursday, October 2, 2003 - M.D.C. Holdings, Inc. (NYSE/PCX: MDC) today announced the highest third quarter and nine-month home orders and home closings in the Company's history. The Company received orders, net of cancellations, for 2,910 and 9,940 homes, respectively, during the third quarter and first nine months of 2003. These represent increases of 19% and 25%, respectively, compared with net orders for 2,439 and 7,968 homes for the same periods in 2002. The 9,940 net home orders for the first nine months of 2003 already exceed the full year 2002 orders for 9,899 homes. Third quarter 2003 home orders particularly were strong in Nevada and Utah (up 96% and 130%, respectively), aided by year-over-year increases in the number of active subdivisions and, in Nevada, the continued strong demand for new homes. The Company also received 78 home orders in the 2003 third quarter from its new markets in Dallas/Fort Worth, Houston and Jacksonville. Similar to the 2003 second quarter, home orders were lower in Southern California, primarily due to the temporary reduction in the number of active subdivisions resulting from the sell-out of certain communities earlier than expected. MDC closed 3,113 homes and 7,837 homes, respectively, in the three and nine months ended September 30, 2003, representing increases of 37% and 33%, respectively, compared with 2,276 and 5,906 homes closed for the same periods in 2002. The Company ended the 2003 third quarter with a backlog of 6,277 homes with an estimated sales value of $1.650 billion, -more- [GRAPHIC OMITTED] M.D.C. HOLDINGS, INC. Page 2 up 23% from the backlog of 5,098 homes with an estimated sales value of $1.350 billion at September 30, 2002. In view of the record level of homes closed during the three months ended September 30, 2003, the Company expects earnings per share to exceed the high end of analysts' estimates for the 2003 third quarter. Analysts who cover the Company's common stock have published estimates for MDC's third quarter earnings per share ranging from $1.48 to $1.73. MDC now believes that it is positioned to close approximately 11,100 homes in 2003. Please refer to the last paragraph of this release for a discussion of factors that may impact the Company's estimate of 2003 home closings and earnings per share. The Company plans to release its 2003 third quarter earnings prior to the market opening on Thursday, October 9, 2003. A synchronized slide show and audio presentation will be broadcast over the Internet on Thursday, October 9, 2003, at 10:00 a.m. Eastern Daylight Time in conjunction with its conference call. The presentation can be accessed by entering MDC's website, richmondamerican.com, clicking on "Investor Relations" and selecting "M.D.C. Holdings 2003 Third Quarter Conference Call." MDC, whose subsidiaries build homes under the name "Richmond American Homes," is one of the largest homebuilders in the United States. The Company also provides mortgage financing, primarily for MDC's homebuyers, through its wholly owned subsidiary HomeAmerican Mortgage Corporation. MDC is a major regional homebuilder with a significant presence in some of the country's best housing markets. The Company is the largest homebuilder in Colorado; among the top five homebuilders in Northern Virginia, suburban Maryland, Phoenix, Tucson and Las Vegas; and among the top ten homebuilders in Northern California, Southern California and Salt Lake City. MDC also has a growing presence in Dallas/Fort Worth and has recently entered the Houston, San Antonio, Philadelphia/Delaware Valley, West Florida, Jacksonville and Chicago markets. Certain statements in this release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among other things, (1) general economic and business conditions; (2) interest rate changes; (3) the relative stability of debt and equity markets; (4) competition; (5) the availability and cost of land and other raw materials used by the Company in its homebuilding operations; (6) the availability and cost of performance bonds and insurance covering risks associated with our business; (7) shortages and the cost of labor; (8) weather related slowdowns; (9) slow growth initiatives; (10) building moratoria; -more- [GRAPHIC OMITTED] M.D.C. HOLDINGS, INC. Page 3 (11) governmental regulation, including the interpretation of tax, labor and environmental laws; (12) changes in consumer confidence and preferences; (13) required accounting changes; (14) terrorist acts and other acts of war; and (15) other factors over which the Company has little or no control. -more- M.D.C. HOLDINGS, INC. Homebuilding Operational Data (Dollars in Thousands)

* In September 2003, MDC acquired certain assets of Crawford Homes in Jacksonville, including 139 homes in backlog. -###- -----END PRIVACY-ENHANCED MESSAGE-----