CalAtlantic Group (CAA) has reported 13.71 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $82.62 million, or $0.62 a share in the quarter, compared with $72.66 million, or $0.52 a share for the same period last year.
Revenue during the quarter grew 12.83 percent to $1,357.66 million from $1,203.24 million in the previous year period.
Operating margin for the quarter was stable at 100 percent, when compared to the previous year period.
Operating income for the quarter was $1,357.66 million, compared with $1,203.24 million in the previous year period.
Larry Nicholson, president and chief executive officer of CalAtlantic Group, Inc. commented, "I'm pleased with our strong start to the new year. Our first quarter results were solid, with net new orders up 4%, new home deliveries up 10%, and net income up 14%, to $0.62 per diluted share, as compared to the first quarter of 2016. We saw order growth accelerate through the quarter and we remain well positioned for a strong finish to the spring selling season."
Real estate inventory remains almost stableReal estate inventory stood at $6,619.05 million as on Mar. 31, 2017. Accounts payable stood at $170.54 million as on Mar. 31, 2017. Investments stood at $183.60 million as on Mar. 31, 2017.
Total assets stood at $8,693.77million as on Mar. 31, 2017. On the other hand, total liabilities were at $4,398.65 million as on Mar. 31, 2017.
Return on assets was at 0.95 percent in the quarter. At the same time, return on equity was at 1.92 percent in the quarter.
Total debt was at $3,572.37 million as on Mar. 31, 2017. Shareholders equity was at $4,295.12 million as on Mar. 31, 2017. Meanwhile, debt to equity ratio was at 0.83 percent in the quarter.
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