TOUSA, Inc. (NYSE:TOA)
Industry: Industrial Goods
Technical Olympic USA, Inc. is a designer, builder and marketer of detached single-family residences, town homes and condominiums in the United States. The Company conducts its homebuilding operations in 15 metropolitan markets, located in four major geographic regions: Florida, the Mid-Atlantic, Texas and the West. It markets its homes to a diverse group of homebuyers, including first-time homebuyers, move-up homebuyers, homebuyers who are relocating to a new city or state, buyers of second or vacation homes, active-adult homebuyers and homebuyers with grown children who want a smaller home (empty-nesters). The Company has marketed its homes under brand names, such as Engle Homes, Newmark Homes, Fedrick, Harris Estate Homes, D.S. Ware Homes, Masonry Homes, Trophy Homes, James Company and Gilligan Homes. For the year ended December 31, 2004, it delivered a total of 7,221 homes. Homebuilding Operations The Company's Florida region consists of four metropolitan markets: Jacksonville; Orlando; Southeast Florida, which is comprised of Broward, Palm Beach, Martin, Port St. Lucie and Indian River Counties, and Southwest Florida, which is comprised of Fort Myers and Naples. It conducts business in the Orlando, Southeast Florida and Southwest Florida markets under the Engle Homes brand name. For the year ended December 31, 2004, the Company delivered 2,361 homes in Florida, generating 31.9% of its revenues from home sales. The Mid-Atlantic region is comprised of four metropolitan markets: Baltimore, Maryland/ Southern Pennsylvania; Nashville, Tennessee; Northern Virginia; and Delaware. The Company entered the Delaware market in September 2004, through the acquisition of certain assets of Gilligan Homes. The Company conducts business in Baltimore/Southern Pennsylvania, Delaware and Northern Virginia under the Engle Homes brand name. In Nashville, it conducts businesses through Newmark Homes and Fedrick, Harris Estate Homes brand. The Company delivered 562 homes in the Mid-Atlantic region generating 11.8% of its revenues from home sales in 2004. The Texas region consists of four metropolitan markets: Austin, Dallas/Ft. Worth, Houston and San Antonio. The Company conducts business in all of its markets in Texas under the Newmark Homes brand name. It also conducts business under the Fedrick, Harris Estate Homes brand name in Austin, Dallas/Ft. Worth and Houston. It also conducts business under the Trophy Homes brand in Houston. The Company builds in both mini-master and master plan communities in Texas. In addition to meet varying local demand in each of its Texas markets, a considerable number of its homes in the Texas market are built as speculative homes, which means the Company builds the homes prior to having sold them. In 2004, the Company delivered 1,827 homes in Texas, generating 23.2% of revenues from home sales. The West region consists of three metropolitan markets: the Colorado Front Range, which includes Denver, Boulder and Colorado Springs; Las Vegas, Nevada, and Phoenix, Arizona. In the West region, the Company conducts business under the Engle Homes brand name. In addition, it also operates under the Trophy Homes brand name in Las Vegas. During 2004, the Company delivered 2,471 homes in the West region, generating 33.1% of revenues from home sales. Financial Services As part of its financial services business, the Company provides mortgage financing, closing and settlement services. Products offered include title, homeowners' and other insurance products. The Company's mortgage financing operation derives most of its revenues from buyers of its homes, although it also offers these services to existing homeowners. By comparison, its closing services and insurance agency operations are used by its homebuyers, as well as a range of other clients purchasing or refinancing residential or commercial real estate. The Company's mortgage business provides a full selection of conventional, Federal Housing Administration (FHA)-insured and United States Department of Veterans Affairs (VA)-guaranteed mort
As Of: 10/07 00:00 ET
*Quotes delayed by 20min.
BuyIns.Net Alerts for Symbol TOA
- No BuyIns.Net Alerts Available for TOA
Graphs for TOA
3 Month Graph
6 Month Graph
1 Year Graph
