Legacy Housing Corporation Reports Second Quarter 2021 Financial Results
10 August 2021 - 8:18AM
Legacy Housing Corporation (NASDAQ: LEGH) today announced its
financial results for the Second quarter ended June 30,
2021.
Financial Highlights:
- Revenue was $48.6 million, an increase of 5.6% from 2020 Q2
record revenue of $46.0 million.
- Earnings were $12.4 million, an increase of 23.8% from 2020 Q2
strong earnings of $10.0 million.
- Per-share earnings were $.51, an increase of 24.4% from 2020 Q2
per-share earnings of $.41.
- Per-share book value was $11.59, an increase of 17.1% from 2020
Q2 per-share book value of $9.90.
- Increases in revenue, earnings, and book value were all
achieved solely from organic growth.
Curtis D. Hodgson, Executive Chairman of the Board, commented,
“This was the most profitable quarter in our history. Maybe
lady luck has been on our side. We have suffered no setbacks
from Covid, and we have continuously produced without
interruption. Our earnings have improved each and every
quarter, notably both last year and this year. Our management
team handles shortages every day. Our production rates are
improving. Our backlog is solid. And our customers
continue to be loyal.
This quarter, we will be breaking ground on our large
development southeast of Austin and, as well, we are making steady
progress on several other significant development projects.
All is good.”
This shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the Company’s
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Legacy Housing Corporation
Legacy Housing Corporation builds, sells and
finances manufactured homes and "tiny houses" that are distributed
through a network of independent retailers and company-owned stores
and are sold directly to manufactured housing communities.
With current operations focused primarily in the southern United
States, we offer our customers an array of quality homes ranging in
size from approximately 390 to 2,667 square feet consisting of 1 to
5 bedrooms, with 1 to 3 1/2 bathrooms. Our homes range in price, at
retail, from approximately $22,000 to $140,000.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the Securities and Exchange Act of
1934 and the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are subject to a number of risks
and uncertainties, many of which are beyond our control. As a
result, our actual results or performance may differ materially
from anticipated results or performance. Legacy Housing undertakes
no obligation to update any such forward-looking statements after
the date hereof, except as required by law. Investors should not
place any reliance on any such forward-looking statements.
Investor Inquiries:Shane Allred, Director of Financial
Reporting, (817) 799-4903investors@legacyhousingcorp.com
or
Media Inquiries:Kira Hovancik, (817)
799-4905pr@legacyhousingcorp.com
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