Financial Earnings Report - Report on Hovnanian Enterprises

NEW YORK, September 11, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Hovnanian Enterprises Inc. (NYSE: HOV). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=HOV

Highlights from our HOV Report include:

• Second Quarter and First Half Results - On June 09, 2015, Hovnanian Enterprises, Inc., announced its financial results for its second quarter and six months period ended April 30, 2015. The Company generated revenues of $468.9 million during the second quarter as compared to $449.9 million reported in Q2 FY14, thereby clocking a growth of 4.2%. However, Hovnanian Enterprises witnessed a net loss of $19.6 million or 13 cents per common share in Q2 FY15 vis-à-vis a net loss of $7.9 million or 5 cents a common share in the previous year quarter. For the first half of fiscal 2015, the revenues totaled $914.7 million as against $814 million reported in the prior year first half. The Company witnessed a net loss of $33.9 million or 23 cents per common share in H1 FY 2015 vis-à-vis a net loss of $32.4 million or 22 cents a share in fiscal 2014's first half.

• Other Business Highlights - The Company's consolidated deliveries totaled 1,223 homes in Q2 FY15 versus 1,235 homes delivered in Q2 fiscal 2014, thereby experiencing a 1% decline. For the six months ended April 30, 2015, consolidated deliveries stood at 2,372 homes vis-à-vis 2,271 homes in the prior year period, clocking a growth of 4.4%. The number of consolidated net contracts during Q2 totaled 1,796 homes with the dollar value of such contracts coming in at $700.7 million against prior year figures of 1,809 homes and a dollar value of $669.3 million respectively.

• Management speak - Ara K. Hovnanian, President and Chairman of the Board, CEO of the Company, said, "Based on the higher gross margin in our April 30th backlog we are confident that our gross margin for the third and fourth quarters of fiscal 2015 will show sequential increases. While we still feel good about our ability to grow the top line during fiscal 2015 and still expect to generate a solid profit during the fourth quarter, we do not expect it to be sufficient to offset earlier quarterly losses. We control enough land today to further grow our community count and remain focused on improving the operating results of some of our weaker divisions. As a result, assuming no changes in current market conditions, we expect fiscal 2016 to be a breakout year for deliveries and revenues, which should lead to a substantial increase in profitability as compared to recent years."

To find out how this influences our rating on Hovnanian Enterprises Inc. read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=HOV

About ACI Association: 

Active Charter Investors Association ("ACI Association") produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. ACI Association has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

ACI Association has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:  

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer"). Rohit Tuli, a CFA® charter holder (the "CFA®"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on sound investment judgment and publicly available information which is believed to be reliable. The Reviewer and the CFA® have not performed any independent investigations or forensic audits to validate the information herein. Unless otherwise noted, any content outside of this document has no association with the Author, the Reviewer, or the CFA® (collectively referred to as the "Production Team") in any way. The Production Team is compensated on a fixed monthly basis and do not hold any positions of interest in any of the securities mentioned herein.

NO WARRANTY 

ACI Association, the Author, the Reviewer and the CFA® (collectively referred to as the "Publishers") are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by the Publishers whatsoever for any direct, indirect or consequential loss arising from the use of this document. The Publishers expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, the Publishers do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING 

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither ACI Association nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://www.aciassociation.com/.

RESTRICTIONS 

ACI Association is not available to residents of Belarus, Cuba, Canada, Iran, North Korea, Sudan, Syria or Somalia. Do not send email to robottrap (at) aciassociation.com.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE www.aciassociation.com