Comstock Homebuilding Companies, Inc. Adds $7.6 Million to Reported Second Quarter Preliminary New Order Revenue
July 08 2005 - 11:46AM
PR Newswire (US)
Comstock Homebuilding Companies, Inc. Adds $7.6 Million to Reported
Second Quarter Preliminary New Order Revenue RESTON, Va., July 8
/PRNewswire-FirstCall/ -- Comstock Homebuilding Companies, Inc.
(NASDAQ:CHCI), said today that 16 units sold at the Company's
Eclipse at Potomac Yard project during the three months ended June
30, 2005 had been inadvertently excluded from its reported new
order revenue for the quarter. Reported backlog for the Company and
the Eclipse at Potomac Yard project remained as previously
reported. For the three months ended June 30, 2004 2005 % Change
(number in 000s except units) New Orders 71 160 125.4% New Order
Revenue 26,063 59,160 127.0% Settlements 88 123 39.8% Backlog
60,433 268,624 344.5% About Comstock Homebuilding Companies, Inc.
Comstock is a production homebuilder that develops, builds, and
markets single-family homes, townhouses, and condominiums. The
Company currently operates in the Washington, D.C. and Raleigh,
North Carolina markets where it targets a diverse range of buyers,
including first-time, early move-up, secondary move- up, empty
nester move-down and active adult home buyers. For more information
on Comstock, please visit http://www.comstockhomebuilding.com/. The
company will report full operating results for the six months ended
June 30, 2005 after close of market on August 1, 2005. This press
release includes "forward-looking statements" within the meaning of
the federal securities laws, which involve uncertainties and risks.
These include statements regarding events or developments that the
Company expects or anticipates will occur in the future, such as
statements about the Company's strategies to improve operating
performance. Please refer to the Company's prospectus and its other
filings with the Securities and Exchange Commission for a complete
discussion of these and other important factors that could cause
results to differ materially from those projected by these
forward-looking statements. DATASOURCE: Comstock Homebuilding
Companies, Inc. CONTACT: Media: Carrie Blewitt of Qorvis
Communications, +1-202-448-3129, , for Comstock Homebuilding
Companies, Inc.; or Company: Bruce Labovitz, Chief Financial
Officer of Comstock Homebuilding Companies, Inc., +1-703-883-1700
ext. 131, Web site: http://www.comstockhomebuilding.com/
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