MATAWAN, N.J. (AP) _ Hovnanian Enterprises Inc. (HOV) on Thursday reported fiscal second-quarter net income of $488.7 million.
On a per-share basis, the Matawan, New Jersey-based company said it had net income of $69.65. Earnings, adjusted for pretax gains, came to $2.86 per share.
The homebuilder posted revenue of $703.2 million in the period.
For the current quarter ending in August, Hovnanian said it expects revenue in the range of $700 million to $750 million.
The company expects full-year revenue in the range of $2.65 billion to $2.8 billion.
Hovnanian shares have more than quadrupled since the beginning of the year. The stock has risen sevenfold in the last 12 months.
The Associated Press