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The New Home Company Reports Selected 2020 Third Quarter Preliminary Results

The New Home Company Reports Selected 2020 Third Quarter Preliminary Results

The New Home Company Inc. (NYSE: NWHM) today announced selected preliminary results for the 2020 third quarter. These estimated results are preliminary and unaudited.

Preliminary 2020 Third Quarter Financial Highlights (Estimated Results)

  • Net new orders of 251 as compared to 124 in the 2019 third quarter, a 102% increase

  • Monthly sales absorption of 3.5 per community as compared to 2.0 per community in the 2019 third quarter, a 75% increase

  • September net new orders of 99, a 106% increase compared to September 2019

  • Homes in backlog of 329 homes, representing $207.1 million in backlog value, as compared to 207 homes at the end of the 2019 third quarter, a 59% increase

  • Ending actively selling community count of 25, a 14% increase compared to the end of the 2019 third quarter

  • Homes sales revenue of $117.4 million as compared to $118.8 million for the 2019 third quarter

    • Deliveries of 157 as compared to 124 in the 2019 third quarter, a 27% increase

    • Average sales price of $748,000 as compared to $958,000 in the 2019 third quarter

  • Fee building revenues of $13.4 million as compared to $22.3 million for the 2019 third quarter

  • Cash and cash equivalents of $126.4 million as of September 30, 2020 as compared to $85.6 million as of June 30, 2020

  • Total debt, net of $290.3 million as compared to $327.4 million as of September 30, 2019

“The New Home Company continues to benefit from an incredibly strong housing market, as September’s order activity represented the highest monthly net order total in our company’s history driven by a monthly sales absorption rate of 4.0 per community,” said New Home Company CEO Leonard Miller. “Our preliminary results in the third quarter were also positively impacted by our ongoing shift to more affordable product, which helped push our monthly sales

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