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M.D.C Holdings Q1 Profit Down

M.D.C Holdings Inc. (MDC) reported that its first-quarter net income was $36.8 million, or $0.56 per share, down from $40.6 million or $0.64 per share in the previous year.

Home sale revenues were up 8% to $697.1 million from $647.3 million last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.71 per share and revenues of $730.01 million for the quarter. Analysts' estimates typically exclude special items.

In April 2020, net new home orders decreased 53% to 357 units from 753 units last year. New home deliveries increased 11% to 523 units from 470 units in the previous year.

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