NVR, Interstate report gains in third quarter

November 15, 1991|By Timothy J. Mullaney

Two of the Baltimore-Washington area's biggest homebuilders said that they made a profit in the third quarter as demand for their new homes increased.

NVR L.P. of McLean, Va., the parent of NVHomes and Ryan Homes, said that it made $2.2 million, or 5 cents a partnership unit. It was the first time NVR has made money since it earned a penny a unit in the first three months of last year.

In between, it lost $260.5 million for all of 1990, including $172.3 million in the third quarter, and kept losing money this year.

The company said that it took orders for 730 homes in the quarter, up from 475 in the same markets last year. A spokesman said NVR will lose money during the fourth quarter.

Interstate General Co. L.P. of St. Charles said it earned $120,000 during the third quarter, or a penny per partnership unit. That was up slightly from $83,000 in the same quarter of 1990.

NVR L.P.

Three months ended 9/30/91

@4 .. . . . Revenue. . . . . . Net. . ... .. Share

'91. . ..255,302,000. . ..2,171,000. . . 0.05

. .285,579,000. . ...(172,279,000). .(6.02)

% change .. -10.6 .. .. .. ..N/A .. .. .. ..N/A

Nine months ended 9/30/91

. . . .. ..Revenue. . . . ..... Net. . . . . ... . Share

'91. . . .617,732,000. . . .....(20,349,000). . .. (0.73)

'90. . . ..847,947,000. . .. .. .(224,465,000). . ...(7.89)

% change ..-27.1 .. .. .. .. .. .. ..N/A .. .. .. .. ..N/A

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