LGI Homes, Inc. Announces Record December, 4th Quarter, and Year End 2016 Home Closings and 2016 Year End Earnings Conference...
January 05 2017 - 4:05PM
LGI Homes, Inc. (Nasdaq:LGIH) today announced an all-time
record for closings during a single month with 467 homes closed
in December 2016. In addition, the Company announced
record-setting quarterly closings of 1,139 homes during the fourth
quarter of 2016 and finished out the year with 4,163 homes closed.
This record-setting performance surpasses its previous record of
3,404 home closings in 2015 by 22.3%. At of the end of December
2016, the Company had 63 active selling communities.
"We are extremely pleased with our record breaking year," said
Eric Lipar, the Company’s Chief Executive Officer and Chairman of
the Board. "We continue to see robust demand for homeownership in
our markets and uphold a positive outlook for 2017. Assuming that
general economic conditions, including interest rates, and mortgage
availability in 2017 are similar to those in the fourth quarter of
2016, we believe we will close more than 4,700 homes in 2017."
The Company will release financial results for the fourth
quarter and fiscal year ended December 31, 2016 before the market
opens on Tuesday, March 7, 2017. The Company will hold a
conference call for investors and other interested parties on
Tuesday, March 7, 2017 at 12:30 p.m. Eastern Time to discuss the
results and will provide additional guidance at that time.
A link to the live audio webcast will be provided through the
Investors section of the Company's website
at www.LGIHomes.com under the Events and Presentations.
The call can also be accessed by dialing (855) 433-0929 for
domestic participants or (970) 315-0256 for international
participants. Participants should ask for the LGI Homes 2016 Fourth
Quarter Earnings Conference Call or reference Conference ID
48646058. Those dialing in should do so at least ten minutes prior
to the start of the call.
An archive of the webcast will be available for replay on the
Company's website for 12 months.
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. engages
in the design, construction and sale of homes in Texas, Arizona,
Florida, Georgia, New Mexico, Colorado, North Carolina, South
Carolina, Washington and Tennessee. The Company has a notable
legacy of more than 13 years of homebuilding operations, over which
time it has closed over 16,000 homes. For more information about
the Company and its new home developments, please visit the
Company's website at www.LGIHomes.com.
Forward-Looking Statements
Any statements made in this press release that are not
statements of historical fact, including statements about the
Company's beliefs and expectations for 2017 home closings, are
forward-looking statements within the meaning of the federal
securities laws, and should be evaluated as such. For more
information concerning factors that could cause actual results to
differ materially from those contained in the forward-looking
statements please refer to the "Risk Factors" section, including,
without limitation, the risk factor entitled "Cautionary Statement
about Forward-Looking Statements" in the Company's Annual Report on
Form 10-K for the fiscal year ended December 31,
2015 filed by the Company with the Securities and
Exchange Commission ("SEC") on March 9, 2016 and similar
sections in the Company's subsequent filings with the SEC. The
Company bases these forward-looking statements on its current
expectations, plans and assumptions that it has made in light of
its experience in the industry, as well as its perceptions of
historical trends, current conditions, expected future developments
and other factors it believes are appropriate under the
circumstances and at such time. As you read and consider this press
release, you should understand that these statements are not
guarantees of future performance or results. The forward-looking
statements are subject to and involve risks, uncertainties and
assumptions and you should not place undue reliance on these
forward-looking statements. The Company undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACT:
Investor Relations
Caitlin Stiles, (281) 210-2619
InvestorRelations@LGIHomes.com
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