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hovnanian enterprises ar1999
Hovnanian Enterprises had its most profitable year in fiscal 1999, with net income increasing 18% to $30.1 million. The company focused on improving profitability and made two acquisitions that strengthened its position in existing markets and added a new market. Looking ahead, Hovnanian Enterprises will continue growing revenue while maintaining profit progress, with a delivery forecast of over 700 homes in both California and North Carolina and over 900 homes in Texas for fiscal 2000. The company will also work to balance its quarterly home deliveries at higher volumes going forward.
