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NASDAQ: AVHI
$17.25 - 0.05
Oct 18, 2017 at 4:00 PM ET
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AV Homes, Inc. Announces Third Quarter 2017 Earnings Call

SCOTTSDALE, Ariz., Oct. 09, 2017 (GLOBE NEWSWIRE) -- AV Homes, Inc. (Nasdaq:AVHI) announced today that it will release financial results for its thi...

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AV Homes Reports Results for Second Quarter 2017

Total revenue increased 7% to $201.2 millionHomebuilding revenue increased 6.7% to $196.9 millionHomes delivered increased to 595 unitsAverage selling...

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Corporate Profile

AV Homes is a nationally respected home builder with a long heritage of innovative designs and outstanding craftsmanship. This devotion has translated into both award-winning homes and prized 55-Plus communities. Formed in 1970, AV Homes has built and closed over 7,500 homes nationwide and is publicly traded on the NASDAQ under the symbol AVHI. Renowned for its commitment to quality and attention to detail in construction, AV Homes is considered a top builder with expertise in the 55-Plus market as well as traditional move-up buyer segments.

AV Homes expanded its footprint through the 2010 acquisition of Arizona home builder, Joseph Carl Homes, the 2014 acquisition of Florida-based Royal Oak Homes and the startup of the Carolinas division with operations in Charlotte and Raleigh, North Carolina. Today, AV Homes is actively engaged in homebuilding, land development and other real estate operations in multiple states including Florida, Arizona, and North Carolina.

The company is best known for its development of the 47,000-acre community of Poinciana, Florida located south of Orlando. Poinciana is a community of more than 28,000 homes and includes the company’s largest on-going project, Solivita, a 4,300-acre amenity-rich 55-Plus community. 

AV Homes expanded its active adult segment into Arizona in 2010 with the opening of CantaMia. CantaMia consists of 1,700 home sites, a 29,000 square foot village center and has become the company’s second “flagship” community. The company’s third 55-Plus community, Vitalia, located in the heart of the treasure coast area of Florida, opened for sales in 2013. Solivita, CantaMia and Vitalia are all heavily-amenitized lifestyle 55-Plus communities currently marketing and closing homes. Looking to the future, AV Homes has broken ground on two new 55-Plus communities. Encore at Eastmark in the Phoenix east valley and CreekSide at Bethpage, in the “Triangle” between Raleigh and Durham, North Carolina are both under development with sales planned for 2015.

Over its history, AV Homes has consistently demonstrated the ability to navigate through prosperous and challenging economic environments, while still keeping the homebuyer as the single top priority. As a result, AV Homes has been the recipient of numerous awards for planning and homebuilding accomplishments, including the National Association of Homes Builders’ esteemed “Best Community” award and earning spots on “Where to Retire” magazine’s top 50 communities list for several of its 55-Plus communities.

AV Homes management team is comprised of real estate veterans, the majority of which have extensive experience in various disciplines within the traditional home building and 55-Plus sector of the industry. The company’s business strategy is focused on:

  • Broadening the geographic footprint of the company into new regions of the country
  • Growing the company’s traditional move-up market share in existing markets
  • Development of new communities to serve the changing needs of the 55-Plus market
  • A business model that is nimble, customer-savvy and operationally efficient