XML 18 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:          
Revenues $ 98,960   $ 162,749 $ 230,993 $ 281,597
Cost of Sales:          
Cost of Sales 106,211   145,295 226,577 251,132
Impairments 19,000   0 19,000 0
Gross Margin:          
Gross margin (7,251)   17,454 4,416 30,465
Selling and marketing expenses (6,386)   (9,683) (13,852) (18,362)
General and administrative expenses (6,892)   (5,841) (12,915) (13,232)
Equity in net income (loss) of unconsolidated joint ventures (19,962)   185 (21,899) 369
Interest expense (1,271)   0 (1,989) 0
Project abandonment costs (94) $ (14,000) (14) (14,130) (19)
Gain on early extinguishment of debt 702   552 579 969
Other income (expense), net (68)   (88) 155 (276)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total (41,222)   2,565 (59,635) (86)
(Provision) benefit for income taxes 16,929   (974) 26,866 (310)
Net income (loss) (24,293)   1,591 (32,769) (396)
Net income attributable to non-controlling interest 0   (19) 0 (19)
Net income (loss) attributable to The New Home Company Inc. $ (24,293)   $ 1,572 $ (32,769) $ (415)
Earnings (loss) per share attributable to The New Home Company Inc.:          
Basic (in dollars per share) $ (1.32)   $ 0.08 $ (1.71) $ (0.02)
Diluted (in dollars per share) $ (1.32)   $ 0.08 $ (1.71) $ (0.02)
Weighted average shares outstanding:          
Basic (in shares) 18,341,549   20,070,914 19,146,687 20,028,600
Diluted (in shares) 18,341,549   20,095,533 19,146,687 20,028,600
Home Building [Member]          
Revenues:          
Revenues $ 77,757   $ 140,464 $ 173,416 $ 239,650
Cost of Sales:          
Cost of Sales 66,216   123,525 150,938 210,094
Impairments 19,000   0 19,000 0
Gross Margin:          
Gross margin (7,459)   16,939 3,478 29,556
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total (41,430)   2,050 (60,573) (995)
Land [Member]          
Revenues:          
Revenues 10   0 157 0
Cost of Sales:          
Cost of Sales 10   0 157 0
Gross Margin:          
Gross margin 0   0 0 0
Construction [Member]          
Revenues:          
Revenues 21,193   22,285 57,420 41,947
Cost of Sales:          
Cost of Sales 20,985   21,770 56,482 41,038
Gross Margin:          
Gross margin 208   515 938 909
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total $ 208   $ 515 $ 938 $ 909