Hovnanian Enterprises Inc. (HOV) reported that its first-quarter net loss was $14.4 million or $0.10 per share, narrower than $24.5 million or $0.17 per share in the comparable quarter last year. On average, eight analysts polled by Thomson Reuters expected the company to report a loss of $0.06 per share. Analysts' estimates typically exclude special items.
Total revenues were $445.71 million, an increase of 22.4% compared with $364.05 million last year, while seven analysts had a consensus revenue estimate of $435.37 million for the quarter.
Consolidated deliveries were 1,149 homes in the first quarter of fiscal 2015, a 10.9% increase compared with 1,036 homes in the fiscal 2014 first quarter. During the first three months of fiscal 2015, deliveries, including unconsolidated joint ventures, increased 7.2% to 1,220 homes compared with 1,138 homes during the same period last year.
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