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Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Share data |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Jun. 30, 2011
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Jun. 30, 2010
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Jun. 30, 2011
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Jun. 30, 2010
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| Consolidated Statements of Operations [Abstract] | ||||
| Home closing revenue | $ 220,131 | $ 291,405 | $ 397,620 | $ 491,987 |
| Land closing revenue | 0 | 0 | 100 | 1,222 |
| Total closing revenue | 220,131 | 291,405 | 397,720 | 493,209 |
| Cost of home closings | (179,954) | (238,205) | (326,399) | (400,247) |
| Cost of land closings | 0 | 0 | (91) | (964) |
| Real estate impairments | (590) | (304) | (1,254) | (846) |
| Total cost of closings and impairments | (180,544) | (238,509) | (327,744) | (402,057) |
| Home closing gross profit | 39,587 | 52,896 | 69,967 | 90,894 |
| Land closing gross profit | 0 | 0 | 9 | 258 |
| Total closing gross profit | 39,587 | 52,896 | 69,976 | 91,152 |
| Commissions and other sales costs | (18,853) | (21,606) | (34,168) | (38,828) |
| General and administrative expenses | (14,990) | (16,729) | (30,116) | (31,422) |
| Earnings from unconsolidated entities, net | 1,226 | 1,786 | 2,134 | 2,589 |
| Interest expense | (7,496) | (8,553) | (15,519) | (16,848) |
| Other income, net | 1,273 | 51 | 1,996 | 3,983 |
| Loss on extinguishment of debt | 0 | (3,454) | 0 | (3,454) |
| Income/(loss) before income taxes | 747 | 4,391 | (5,697) | 7,172 |
| Provision for income taxes | (185) | (225) | (400) | (346) |
| Net income/(loss) | $ 562 | $ 4,166 | $ (6,097) | $ 6,826 |
| Income/(loss) per common share: | ||||
| Basic | $ 0.02 | $ 0.13 | $ (0.19) | $ 0.21 |
| Diluted | $ 0.02 | $ 0.13 | $ (0.19) | $ 0.21 |
| Weighted average number of shares: | ||||
| Basic | 32,395 | 32,077 | 32,328 | 32,009 |
| Diluted | 32,638 | 32,287 | 32,328 | 32,258 |
| X | ||||||||||
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- Definition
Represents net earnings in a joint venture.
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| X | ||||||||||
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- Definition
Aggregate home closing revenue less home closing costs and real estate impairment directly attributable to the home closing revenue generation activity.
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- Definition
Aggregate land sales revenue less land sales costs and land impairments directly attributable to the land sales revenue generation activity.
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| X | ||||||||||
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- Definition
This element represents the total of the costs related to real estate revenues, including management, leasing, and development services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate costs of real estate land sales including administrative paperwork, real estate brokerage, title, and property management operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate costs related to design, development, general contracting, remodeling, and renovation services for residential buildings, including single-family houses, multifamily housing, townhomes, apartments, and modular housing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Revenue related to the sale of homes and home building activities including design, development, general contracting, and renovation services for residential buildings, including single-family houses, multifamily housing, townhouses, apartments, and modular housing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Revenue from the sale of land in the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total amount of expenses directly related to the marketing or selling of products or services.
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| X | ||||||||||
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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