MDC Holdings (NYSE: MDC)
Headquarters: Denver, CO
CEO: Larry
Mizel
Employees*: 4,000
Home Types: First-time, Move-up,
Average price: $313,800
Year end: December 31 |
Building under the name Richmond American Homes, M.D.C. Holdings, Inc. delivered over 15,000 single-family homes in 2005 and sells primarily to first-time and move-up buyers. The company, which went public in 1972, currently operates in 14 states and builds homes ranging in price from $150,000 starter homes to semi-custom homes costing more than $1.6 million. MDC offers mortgage loans, title services and insurance through its subsidiaries.
MDC, founded more than 30 years ago and led by chairman and CEO Larry A. Mizel, is established as one of the top U.S. homebuilders, averaging year-over-year profit increases of 40% over the past 10 years. The company has developed into one of only seven investment grade companies in the homebuilding industry by strategically allocating profits to grow the business, improve the capital structure and reward shareowners. Acquisitions beginning in 2002 enabled MDC to expand its presence in the Las Vegas and Northern Virginia markets and to enter the Salt Lake City market. In 2003, MDC acquired assets from Crawford Homes to enter the Jacksonville market, and further expanded its presence in this market with the 2004 acquisition of assets of Watson Home Builders. The company also anticipates growth in several of its other new markets including Florida, Delaware Valley and Illinois. Today, MDC is recognized as a Fortune 500 company and has earned recognition as one of the top five companies in terms of five and ten-year returns to shareowners.
Net income for the year ended December 31, 2005 was a record $505.7 million, with total revenues for the year at a record $4.9 billion. At year end, backlog stood at 6,532 homes, valued at $2.44 billion.
For more information, click
here to visit MDC's Web site.
* Employee figures are for the calendar
year 2005. |
