-----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, A0s6PT07oiA90X5bYc0syKPtc8L5upc4ngiFh9oK8JsimeG2SuxBoR8MBbd6lqHg Txxz3n6CpoHq8FdsC4s6zA== 0000773141-99-000008.txt : 19990712 0000773141-99-000008.hdr.sgml : 19990712 ACCESSION NUMBER: 0000773141-99-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990707 ITEM INFORMATION: FILED AS OF DATE: 19990709 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: SEC FILE NUMBER: 001-08951 FILM NUMBER: 99661503 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 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): July 7, 1999 M.D.C. Holdings, Inc. ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 1-8951 84-0622967 - ----------------- -------------------- ------------------- (State or other (Commission file number) (I.R.S. employer jurisdiction of identification no.) incorporation) 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 5. OTHER EVENTS On July 7, 1999 the Registrant issued the press release attached as Exhibit 99.1 to this Current Report on Form 8-K. 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. By: /s/ Paris G. Reece III ----------------------------- Paris G. Reece III Executive Vice President and Dated: July 9, 1999 Chief Financial Officer EX-99.1 2 Exhibit 99.1 NEWS BULLETIN M.D.C. HOLDINGS, INC. RICHMOND AMERICAN HOMES HOMEAMERICAN MORTGAGE FOR IMMEDIATE RELEASE WEDNESDAY, JULY 7, 1999 - ------------------------------------------------------------------------------ Contacts: Paris G. Reece III Daniel S. Japha Chief Financial Officer Director, Investor Relations (303) 804-7706 (303) 804-7730 (Financial Information) (General Information) MDC HOLDINGS REPORTS RECORD SECOND QUARTER HOME ORDERS, HOME CLOSINGS AND BACKLOG DENVER, Wednesday, July 7, 1999 - M.D.C. Holdings, Inc. (NYSE/PCX: MDC) today announced a record level of second quarter and first half home orders and home closings, as well as the highest quarter-end backlog in its history. The Company received orders for 2,029 homes and 4,275 homes, respectively, during the second quarter and first six months of 1999, representing increases of 10% and 4% (approximately 20% and 13% on a "same-store" basis) over the 1,849 home orders and 4,125 home orders, respectively, received for the same periods in 1998. The second quarter 1999 home order increase featured relatively strong absorptions in both Virginia and Maryland (up 19% and 15%, respectively), continued strength in the demand for new homes in Colorado (up 11%) and the Company's expansion to six active subdivisions in Northern California, compared with one a year ago. MDC closed 1,864 homes and 3,311 homes, respectively, for the three and six months ended June 30, 1999, compared with closings of 1,562 homes and 2,832 homes, respectively, for the same periods in 1998. The 1,864 homes closed in the 1999 second quarter was the highest number of closings for any quarter in the Company's history. The strong 1999 second quarter home orders contributed to a record quarter-end backlog level at June 30, 1999 of 3,894 homes with an estimated sales value of $800 million, a 17% increase over the backlog of 3,325 homes with an estimated sales value of $640 million at June 30, 1998. MDC also announced that it anticipates releasing its earnings and holding its quarterly conference call for the second quarter and first half of 1999 on July 20, 1999. MDC is one of the largest homebuilders in the United States. The Company also provides mortgage financing, primarily for MDC's home buyers, 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 metropolitan Denver; among the top five homebuilders in Northern Virginia, Phoenix, Tucson and Colorado Springs; among the top ten homebuilders in Southern California, suburban Maryland and Las Vegas; and has a growing presence in the San Francisco Bay area. -more- M.D.C. HOLDINGS, INC. Homebuilding Operational Data
Three Months Six Months Ended June 30, Ended June 30, ------------------------- ---------------------------- 1999 1998 1999 1998 ----------- ----------- ----------- ------------ Orders For Homes, net (units) Colorado............................. 759 687 1,604 1,597 California........................... 407 310 800 620 Arizona.............................. 413 430 938 951 Nevada............................... 146 163 274 305 Virginia............................. 194 163 461 427 Maryland............................. 110 96 198 225 ----------- ----------- ----------- ----------- Total........................... 2,029 1,849 4,275 4,125 =========== =========== =========== =========== Homes Closed (units) Colorado............................. 691 631 1,193 1,111 California........................... 317 194 540 375 Arizona.............................. 469 365 855 691 Nevada............................... 115 106 256 196 Virginia............................. 190 163 310 285 Maryland............................. 82 103 157 174 ----------- ----------- ----------- ----------- Total........................... 1,864 1,562 3,311 2,832 =========== =========== =========== ===========
June 30, June 30, 1999 1998 ------------ ------------ Backlog (units) Colorado............................. 1,766 1,366 California........................... 586 515 Arizona.............................. 779 653 Nevada............................... 164 204 Virginia............................. 405 353 Maryland............................. 194 234 ----------- ----------- Total........................... 3,894 3,325 =========== =========== Estimated Sales Value (dollars in thousands)................ $ 800,000 $ 640,000 =========== ===========
-###- M.D.C. Holdings, Inc. Record-Setting Mid-Year 1999 Performance Performance Graphs Set forth below are graphs that show the increasing levels of Home Orders, Home Closings and Backlog over a four and one-half year period. Home Orders |----------------------------------------------------------| | | | | 7,191 | | 7,000| |------|| | | | || | 6,000| 5,769 | || | 2nd Qtr 1999 | 5,049 |------| | || | 5,000| 4,536 |------| | | | || | Up 10% |------| | | | | | || 4,125 4,275 | 4,000| | | | | | | |||---------||---------| | | | | | | | | ||| 1,849 || 2,029 | | 1st Half 1999 3,000| | | | | | | |||(2nd Qtr)||(2nd Qtr)| | | | | | | | | |||---------||---------| | Up 4% 2,000| | | | | | | ||| 2,276 || 2,246 | | | | | | | | | |||(1st Qtr)||(1st Qtr)| | 1,000| | | | | | | ||| || | | 0|----------------------------------------------------------| 6 Mths Ended June 30, 1995 1996 1997 1998 --------------------- 1998 1999 Home Closings |----------------------------------------------------------| | 6,293 | | 6,000| |------|| | | 5,223 | || | 2nd Qtr 1999 5,000| 4,974 |------| | || | | 4,570 |------| | | | || | Up 19% 4,000|------| | | | | | || | | | | | | | | || 3,311 | 3,000| | | | | | | || 2,832 |---------| | 1st Half 1999 | | | | | | | |||---------|| | | 2,000| | | | | | | ||| 1,562 || 1,864 | | Up 17% | | | | | | | |||(2nd Qtr)||(2nd Qtr)| | 1,000| | | | | | | ||| 1,270 || 1,447 | | | | | | | | | |||(1st Qtr)||(1st Qtr)| | 0|----------------------------------------------------------| 6 Mths Ended June 30, 1995 1996 1997 1998 --------------------- 1998 1999 Backlog |----------------------------------------------------------| June 30, 1999 | | | | | | Up 17% | | | 4,000| | 3,894 | | | 3,325 |---------| | 3,000| 2,930 ||---------|| | | | 2,032 |------||| || | | 2,000| |------| | ||| || | | | 1,355 1,486 | | | ||| || | | 1,000|------| |------| | | | ||| || | | | | | | | | | ||| || | | 0|----------------------------------------------------------| June 30, 1995 1996 1997 1998 --------------------- 1998 1999 -----END PRIVACY-ENHANCED MESSAGE-----