XML 15 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Operating revenue        
Home sales $ 325,059 $ 247,740 $ 586,354 $ 437,455
Construction services 594 6,955 3,724 14,408
Operating revenue 325,653 254,695 590,078 451,863
Operating costs        
Cost of sales — homes (268,638) (200,248) (483,809) (354,329)
Construction services (548) (5,898) (3,372) (11,927)
Sales and marketing (18,112) (14,904) (33,105) (27,128)
General and administrative (16,685) (13,415) (34,519) (27,363)
Amortization of intangible assets 0 (462) 0 (665)
Other (487) (421) (810) (957)
Total operating costs (304,470) (235,348) (555,615) (422,369)
Operating income (loss) 21,183 19,347 34,463 29,494
Equity in income of unconsolidated joint ventures 1,194 515 2,375 763
Other income, net 228 642 753 1,423
Income (loss) before provision for income taxes 22,605 20,504 37,591 31,680
Provision for income taxes (7,519) (7,254) (12,564) (10,824)
Net income (loss) 15,086 13,250 25,027 20,856
Less: Net income attributable to noncontrolling interests (525) (973) (1,452) (1,897)
Net income available to common stockholders $ 14,561 $ 12,277 $ 23,575 $ 18,959
Income per common share:        
Basic (in USD per share) $ 0.40 $ 0.34 $ 0.64 $ 0.52
Diluted (in USD per share) $ 0.38 $ 0.32 $ 0.62 $ 0.50
Weighted average common shares outstanding:        
Basic (in shares) 36,786,268 36,565,369 36,719,057 36,514,962
Diluted (in shares) 38,356,722 38,026,866 38,302,047 37,876,696