|
William Lyon Homes Announces Increase to Stock Repurchase
Program and Purchase of Approximately 1.3 Million Shares
NEWPORT BEACH, Calif., Nov 12, 2004 (BUSINESS WIRE) -- William Lyon Homes (WLS)
announced today that its Board of Directors has approved an increase in the
size of the Company's previously announced stock repurchase program to 3.0
million shares of its common stock (including any shares previously
repurchased by the Company under the program). Under the program, as
originally adopted in September 2001, the Company could repurchase 20% of
its then outstanding shares of common stock or approximately 2.0 million
shares. Prior to today, the Company had repurchased approximately 1.2
million shares of its common stock under the stock repurchase program.
The Company also announced that, as part of its increased stock repurchase
program today, it repurchased approximately 1.3 million shares of its common
stock.
William Lyon Homes is one of the oldest and largest homebuilders in the
Southwest with development communities in California, Arizona and Nevada.
The Company's corporate headquarters are located in Newport Beach,
California.
Certain statements contained in this release that are not
historical information contain forward-looking statements. The
forward-looking statements involve risks and uncertainties and actual
results may differ materially from those projected or implied. Further,
certain forward-looking statements are based on assumptions of future events
which may not prove to be accurate. Factors that may impact such
forward-looking statements include, among others, changes in general
economic conditions and in the markets in which the Company competes,
terrorism or hostilities involving the United States, changes in mortgage
and other interest rates, changes in prices of homebuilding materials,
weather conditions, the occurrence of events such as landslides, soil
subsidence and earthquakes that are uninsurable, not economically insurable
or not subject to effective indemnification agreements, the availability of
labor and homebuilding materials, changes in governmental laws and
regulations, the timing of receipt of regulatory approvals and the opening
of projects, and the availability and cost of land for future development,
as well as the other factors discussed in the Company's reports filed with
the Securities and Exchange Commission.
SOURCE: William Lyon Homes
William Lyon Homes
Investor Relations
W. Douglass Harris, 949-833-3600
|
|
