MDC Holdings Inc. (MDC) 2002年年度报告「NYSE」.pdf

1、M.D.C.HOLDINGS,INC.2002 ANNUAL REPORTStrength.Focus.Vision.COVER:Richard Grasso-Chairman and Chief Executive Officer of the New York Stock Exchange pictured with Larry A.Mizel-Chairman and Chief Executive Officer,Paris G.Reece III-Executive Vice President and Chief Financial Officer and David D.Mand

2、arich-President and Chief Operating Officer.a powerful teamin a powerful industry.for over 30 years,m.d.c.holdings,inc.has built and financed The American Dreamfor nearly 100,000 families.Now,as one of the nations top homebuilders,our company and our vision are stronger than ever.(Dollars in thousan

3、ds except per share amounts)ORDERS FOR HOMES,CLOSINGS,BACKLOGAND ACTIVE SUBDIVISIONS20022001200019991998Orders for Homes,net(units)9,8997,701 7,835 7,232 7,191 Home Closings(units)8,9008,174 7,484 7,221 6,293 Homes in Backlog at Year-End(units)4,0352,882 3,292 2,941 2,930 Backlog Sales Value at Year

4、-End$1,120,000$760,000$775,000$600,000$580,000 Active Subdivisions at Year-End178137 133 131 130 TOTAL REVENUES,MARGINSAND SELLING PRICES20022001200019991998Total Revenues$2,318,524$2,125,874$1,751,545$1,567,638$1,263,209 Home Gross Margins23.0%23.2%22.3%19.3%16.9%Excluding Interest in Home Cost of

5、Sales23.9%24.4%23.6%21.2%19.5%Average Selling Price per Home Closed$254.0$254.1$227.3$211.4$193.7 INCOME AND RETURNS20022001200019991998Pre-Tax Operating Income$274,044$255,387$203,201$148,453$83,852 Net Income$167,305$155,715$123,303$89,392$36,254 Net Income per Diluted Share$6.03$5.72$4.64$3.26$1.

6、35 EBITDA1$326,158$318,048$254,911$200,074$144,517 Net Operating Return on Revenues7.2%7.3%7.0%5.7%4.1%DEBT,EQUITY AND LIQUIDITY20022001200019991998Total Homebuilding and Corporate Debt$322,990$174,503$264,444$214,389$197,076 Stockholders Equity$800,567$653,831$482,230$389,023$298,131 Average Dilute