M/I Homes, Inc. (MHO) reported net income for the fourth quarter of $5.0 million or $0.23 per share, compared to a net loss of $3.0 million, or $0.16 per share for the year-ago quarter.
Total revenue for the fourth quarter rose to $250.91 million from $176.79 million a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.27 per share on revenue of $247.13 million for the fourth quarter. Analysts' estimates typically exclude special items.
New contracts for 2012's fourth quarter were 673, up 33% from 2011's fourth quarter of 505.
The company's cancellation rate was 21% in the fourth quarter, compared to 23% in the fourth quarter of the prior year. Homes delivered in 2012's fourth quarter were 887, compared to 667 in 2011's fourth quarter.
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