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marketmaven

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marketmaven

Re: basserdan post# 485396

Tuesday, 07/11/2006 3:03:41 PM

Tuesday, July 11, 2006 3:03:41 PM

Post# of 704019
M/I Schottenstein Homes-MHO new contracts down 35%-Buy@SOLE
2Q home deliveries were up 16% while the unit backlog was down 13%. The company attributes the decline in new contracts due to a 20% decline in traffic, the large builders continue discounting and cancellation rate has increased approximately 30%. The firm has decreased their 2006/07 EPS estimates. :
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