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NVR, Inc. Announces a 52% Increase in Earnings Per Share
and a 9% Increase in New Orders for the Third Quarter of 2004
MCLEAN, Va., Oct. 18 /PRNewswire-FirstCall/ -- NVR, Inc. (Amex: NVR), one of
the nation's largest homebuilding and mortgage banking companies, today
announced that diluted earnings per share for its third quarter ended
September 30, 2004 exceeded the 2003 third quarter by 52% and net income
increased 35%. Net income for the 2004 third quarter was $147,679,000,
$19.04 per diluted share, compared to net income of $109,403,000, $12.55 per
diluted share, for the same period of 2003. Total revenues increased 19% to
$1,168,550,000 for the quarter when compared to $980,380,000 for the same
period of 2003. In addition, the Company reported that new orders for the
quarter ended September 2004 increased by 9% when compared to the third
quarter of 2003. Backlog at the end of the period increased 6% to 7,775
units when compared to the same time last year. The dollar value of the
backlog units totaled $2,939,665,000 at the end of the September 2004
quarter, a 22% increase from a year earlier
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