LGI Homes, Inc. Announces Operating Results for the Month, Fourth Quarter and Full Year 2013; Revises Earnings Guidance for the Full Year 2014
January 02, 2014
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LGI Homes, Inc. announced operating results for the month, fourth quarter and full year 2013. For a single month with 214 homes closed in December 2013.
For the quarter, the company had a record-setting closings of 505. The home closings reported for the fourth quarter 2013 and 2012 include those from the company's pre IPO joint ventures.
For the full year, the company finished out 2013 with 1,617 homes closed for the full year far surpassing its previous record of 1,062 home closings for 2012. The home closings reported for the full years 2013 and 2012 include those from the company's pre IPO joint ventures.
In addition, the company uphold a positive outlook on 2014 and maintain previously released guidance. Assuming that general economic and mortgage availability conditions in 2014 are similar to those in 2013, the company believe will have 36 active selling communities at the end of 2014 and close 2,200 homes during the year.
LGI Homes, Inc. is focused on the homebuilding industry. The Company designs, constructs and sells homes across approximately 36 markets in 21 states. The Company offers multiple product lines, including attached and detached entry-level homes and active adult offerings that are marketed and sold under its LGI Homes brand and luxury homes that are marketed and sold under its Terrata Homes brand. Its homebuilding operations are organized and managed by seven operating segments: West, Northwest, Central, Midwest, Florida, Southeast and Mid-Atlantic. The Company offers an attached townhome product in certain markets. The Company's CompleteHome and CompleteHome Plus packages offers buyers move-in ready homes. Each of these packages includes preselected, upgraded features, including stainless steel appliances, cabinets and others. Its wholesale business builds and sells homes primarily to institutions interested in acquiring single-family rental properties through bulk sales agreements.
LGI HOMES, INC. 
