XML 56 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Operations and Comprehensive Income (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Total home sale and land revenues $ 258,347 $ 208,728 $ 444,615 $ 372,315
Homebuilding pretax income (loss) 9,655 (29,803) 11,780 (53,507)
Benefit (provision) for income taxes 983 1,823 1,123 5,648
Net income (loss) 10,638 (27,980) 12,903 (47,859)
Other comprehensive income (loss):        
Unrealized gain (loss) related to available-for-sale securities (698) (1,971) 5,850 1,332
Comprehensive income (loss) 9,940 (29,951) 18,753 (46,527)
Earnings (loss) per share:        
Basic $ 0.22 $ (0.60) $ 0.27 $ (1.03)
Diluted $ 0.22 $ (0.60) $ 0.26 $ (1.03)
Weighted Average Common Shares Outstanding:        
Basic 47,398,088 46,719,233 47,367,051 46,717,408
Diluted 47,752,729 46,719,233 47,677,067 46,717,408
Dividends declared per share $ 0.25 $ 0.25 $ 0.50 $ 0.50
Homebuilding [Member]
       
Home sale revenues 256,532 206,163 441,210 369,546
Land sale revenues 1,815 2,565 3,405 2,769
Total home sale and land revenues 258,347 208,728 444,615 372,315
Home cost of sales (220,220) (179,097) (378,874) (320,078)
Land cost of sales (1,718) (1,741) (3,208) (1,758)
Inventory impairments   (8,633)   (8,633)
Total cost of sales (221,938) (189,471) (382,082) (330,469)
Gross margin 36,409 19,257 62,533 41,846
Selling, general and administrative expenses (39,223) (49,158) (73,347) (96,811)
Interest income 5,373 6,986 11,286 13,474
Interest expense   (7,334) (808) (16,001)
Other income (expense) 418 (2,643) 576 (884)
Homebuilding pretax income (loss) 2,977 (32,892) 240 (58,376)
Financial Services [Member]
       
Homebuilding pretax income (loss) 6,678 3,089 11,540 4,869
Revenues 10,587 6,731 18,306 12,434
Expenses (3,909) (3,642) (6,766) (7,565)
Financial services pretax income $ 6,678 $ 3,089 $ 11,540 $ 4,869