Note 17 - Results of Quarterly Operations (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Information [Text Block]

17. Results of Quarterly Operations (Unaudited)

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Total (1)
	(Dollars in thousands, except per share amounts)
2011:
Revenues	$	144,759		$	206,880		$	245,322		$	296,939		$	893,900
Homebuilding gross margin	$	29,387		$	34,798		$	38,246		$	59,766		$	162,197
Net income (loss)	$	(14,797	)	$	(10,519	)	$	(6,434	)	$	15,333		$	(16,417	)
Basic income (loss) per common share	$	(0.04	)	$	(0.03	)	$	(0.02	)	$	0.04		$	(0.05	)
Diluted income (loss) per common share	$	(0.04	)	$	(0.03	)	$	(0.02	)	$	0.04		$	(0.05	)
2010:
Revenues	$	177,667		$	321,142		$	210,896		$	215,169		$	924,874
Homebuilding gross margin	$	39,863		$	66,268		$	48,835		$	46,878		$	201,844
Net income (loss)	$	(5,071	)	$	10,661		$	4,543		$	(21,857	)	$	(11,724	)
Basic income (loss) per common share	$	(0.02	)	$	0.04		$	0.02		$	(0.08	)	$	(0.05	)
Diluted income (loss) per common share	$	(0.02	)	$	0.04		$	0.02		$	(0.08	)	$	(0.05	)

(1) Some amounts do not add across due to rounding differences in quarterly amounts and due to the impact of differences between the quarterly and annual weighted average share calculations.