The New Home Company Reports 2021 first Quarter Results streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
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The New Home Company Inc. (NYSE: NWHM) today announced results for the 2020 fourth quarter and full year.
Fourth Quarter 2020 Financial Results
Net orders up 89%, monthly sales absorption rate increased 68% to 3.7 compared to 2.2 in the prior year
Unit backlog up 175%, dollar value of homes in backlog increased 88% compared to last year to $236.0 million
Total revenues of $145.6 million and home sales revenue of $135.4 million
Homebuilding gross margin of 14.8% compared to 7.8% in the prior year, including impairments in prior year
Adjusted gross margin excluding interest in cost of sales and impairments improved 260 basis points to 19.4% compared to 16.8% in the prior year