Home builder orders, profit increases

Monday, July 26, 1999 | 11:16 a.m.

Del Webb Corp. of Phoenix, a big Las Vegas home builder, today reported a profit for the quarter ended June 30 of $23.7 million or $1.27 per share vs. $17.6 million or 94 cents in the year-ago quarter.

Revenues of $518.9 million were up from $396.1 million in the year-ago quarter.

Del Webb reported a 22 percent increase in net new orders, climbing to 2,251 units compared to 1,845 the previous year. Home closings increased 15 percent to 2,294 units.

The home builder recorded 361 orders at its Las Vegas Sun City communities during the quarter, up from 353 in the year-ago quarter. Las Vegas family community orders were even at 98 while the latest quarter included 54 country club community orders compared to none of that type in the corresponding quarter.

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