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First Quarter Gross Margin Percentage Increased 440 Basis Points Year-over-Year 85% Year-over-Year Increase in Consolidated Backlog Dollars to $1.67 Billion 51% Year-over-Year Increase in Land and Land Development Spend MATAWAN, N.J., March 02, 2021 (GLOBE NEWSWIRE) Hovnanian Enterprises, Inc. (NYSE: HOV), a leading national homebuilder, reported results for its fiscal first quarter ended January 31, 2021. RESULTS FOR THE FIRST QUARTER ENDED JANUARY 31, 2021:   Total revenues increased 16.3% to $574.7 million in the first quarter of fiscal 2021, compared with $494.1 million in the same quarter of the prior year. Homebuilding gross margin percentage, after cost of sales interest expense and land charges, increased 440 basis points to 17.3% for the three months ended January 31, 2021 compared with 12.9% during the same period a year ago.

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