THE WOODLANDS, Texas, Jan. 6, 2015 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (Nasdaq: LGIH ) today announced an all-time record for closings during a single month with 246 homes closed in December 2014. With closings of 652 homes during the fourth quarter of 2014, the Company finished out 2014 with 2,356 homes closed for the year. This surpasses its previous record of 1,617 home closings for 2013 by 45.7%. The home closings reported for 2013 include those from the Company's pre IPO joint ventures. As of the end of 2014 the Company had 39 active selling communities.
"We are extremely pleased with our record breaking year," said Eric Lipar, LGI Homes chairman and CEO. "We continue to see strong demand for homeownership in our markets and uphold a positive outlook for 2015. Assuming that general economic conditions, including interest rates, and mortgage availability in 2015 are similar to those in 2014, we believe we will have between 50 and 55 active selling communities at the end of 2015 and close between 2,800 and 3,200 homes during 2015."
The Company expects to report fourth quarter and full year 2014 financial results on or about March 12, 2015, and will provide additional information at that time. A press release will be issued in February to confirm the date and details for the conference call to discuss the Company's fourth quarter and full year 2014 financial results.
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. engages in the design and construction of homes in Texas, Arizona, Florida, Georgia, New Mexico and North Carolina. LGI's core markets include Houston, San Antonio, Dallas/Fort Worth, Austin, Phoenix, Tampa, Orlando, Atlanta, Tucson, Albuquerque and most recently Charlotte. For more information about the Company and its new home developments, please visit the Company's website at www.LGIHomes.com .
Forward-Looking Statements
Any statements made in this press release that are not statements of historical fact, including statements about the Company's beliefs and expectations, are forward-looking statements within the meaning of the federal securities laws, and should be evaluated as such. For more information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements please refer to the "Risk Factors" section, including, without limitation, the risk factor entitled "Cautionary Statement about Forward-Looking Statements" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed by the Company with the Securities and Exchange Commission ("SEC") on March 31, 2014 and similar sections in the Company's subsequent filings with the SEC. The Company bases these forward-looking statements on its current expectations, plans and assumptions that it has made in light of its experience in the industry, as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances and at such time. As you read and consider this press release, you should understand that these statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Taylor Renberg, (281) 210-2619
