Home Building Hot Streak: LGI Homes Reports 15 Consecutive Quarters of Profitability
It's earnings season for the home building industry, and amid the sea of public builder financials currently being reported, results like this stand out in contrast: For the 15th consecutive quarter, LGI Homes, one of the nation's top 100 single family home builders has achieved profitability.
Houston, Texas (PRWEB) October 30, 2009 -- It's earnings season for the home building industry, and amid the sea of public builder financials currently being reported, results like this stand out in contrast: For the 15th consecutive quarter, LGI Homes, one of the nation's top 100 single family home builders has achieved profitability.
"Posting financials in the black is a rare occurrence for home builders in the current environment," said Eric Lipar, CEO of the Houston-based housing and land development company that is achieving gross margins near 30%. "We approach this business in a way that's very different from other builders. This year, on average, we are generating 135 incoming leads per week, per subdivision. We feel like our unique sales and marketing model has really allowed us to side- step the housing and economic downturn."
The company is focused on offering quality homes at very affordable prices to the first-time buyer market. According to Lipar, operating under the LGI Homes way gives the company a foundation for success that's not dependent on creative financing, government stimulus or other unsustainable support.
Here is how the LGI Homes way is Different:
| | - Direct to Consumer
- 30,000 direct mail pieces direct to the consumer per week/per subdivision
- TV ads weekly
- No reliance on Realtors
- Spec inventory - immediate move-in
- Even-flow production
- 6 floor plans per community
- No options
- 6 - 8 highly trained sales reps in each location
- On-going weekly sales training
- Proprietary lead and marketing database
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Active Communities
LGI Homes is currently offering homes in four communities, Canyon Crossing in San Antonio, TX, Sunrise Meadow in Rosenberg, TX, Creekside Village in Spring, TX, and Deer Creek in Fort Worth, TX.
Accolades
| | - Inc. 500 Magazine, recently listed LGI Development in their 2009 list of fastest growing private companies in the US, for the third year in a row.
- According to Builder Magazine, LGI Homes is the only builder among the top 200 that has reported closings and revenue growth in each of the past three years.
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About LGI Homes:
LGI Homes has not just been profitable, but it has grown steadily in recent years. In 2008 LGI Homes closed 475 homes, up from 435 in 2007 and 418 in 2006. For more information on LGI Homes go to: www.lgihomes.com
Photos, additional information and interviews are available upon request.
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