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M/I Homes Q4 Profit Climbs 42%; Beats Street View

Single-family homes builder M/I Homes, Inc. (MHO) on Wednesday reported a 42 percent rise in fourth quarter earnings, helped by higher revenues and increase in number of homes delivered. The earnings came in above the Street expectations.

The company posted fourth-quarter net income of $113.4 million or $3.83 per share, higher than $80.1 million or $2.71 per share in the same period last year. Total quarterly revenues rose 16 percent to $1.05 billion from $906.4 million a year ago.

On average, 2 analysts expected the company to report earnings of $3.38 per share on revenues of $982.1 million for the quarter.

Homes delivered in the fourth quarter stood at 2,316, up 3% from 2,242 deliveries in the previous-year period.

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