TRI Point Homes 2Q earnings recover from last year
Net income rises to $2.1 million
TRI Point Homes posted a second-quarter net income of $2.1 million, or 7 cents a share, compared to a net loss of $1.3 million, or 9 cents a share, for the same period a year ago.
Additionally, new home orders escalated to 131 compared to 38 for the second quarter of 2012.
“We are beginning to capitalize on the benefits of the imbedded growth in our homebuilding activities as a result of our strategic land acquisitions and the planned rollout of new communities,” said Douglas Bauer, CEO of TRI Point Homes.
“We ended the quarter with a record high backlog reflecting higher pricing that should continue to expand our gross margins and position the company for a strong finish to the year,” he added.