Quarterly Results

12 Months Ended

Dec. 31, 2012

Quarterly Results

15. Quarterly Results (unaudited)

The following table sets forth unaudited selected financial data and operating information on a quarterly basis for the years ended December 31, 2012 and 2011.

	Year Ended December 31, 2012
	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Revenues-homebuilding operations	$	925,363	$	854,396	$	755,290	$	586,195
Gross profit—homebuilding operations	$	168,967	$	151,960	$	130,312	$	94,366
Mortgage banking fees	$	18,375	$	16,241	$	14,493	$	14,297
Net income	$	60,627	$	53,000	$	46,838	$	20,123
Diluted earnings per share	$	11.98	$	10.33	$	8.97	$	3.90
Contracts for sale, net of cancellations (units)		2,625		2,558		2,614		3,157
Settlements (units)		2,788		2,656		2,475		1,924
Backlog, end of period (units)		4,979		4,950		5,048		4,909
Loans closed	$	642,171	$	594,867	$	548,871	$	420,184

	Year Ended December 31, 2011
	4th Quarter		3rd Quarter		2nd Quarter		1st Quarter
Revenues-homebuilding operations	$	728,808	$	696,980	$	682,663	$	502,744
Gross profit—homebuilding operations	$	112,086	$	124,598	$	124,062	$	84,824
Mortgage banking fees	$	12,480	$	10,496	$	13,218	$	11,760
Net income	$	32,392	$	43,409	$	38,445	$	15,174
Diluted earnings per share	$	6.32	$	7.98	$	6.48	$	2.52
Contracts for sale, net of cancellations (units)		2,158		2,218		2,468		2,403
Settlements (units)		2,391		2,255		2,207		1,634
Backlog, end of period (units)		3,676		3,909		3,946		3,685
Loans closed	$	520,919	$	489,866	$	504,116	$	353,571