Tri Pointe Profit Slips On Geographic Shift
Builder Online
TRI Pointe Group, Inc. (NYSE:TPH), Irvine, Calif., on Wednesday reported net income of $57.9 million, or $0.36 per share, for the fourth quarter ended Dec. 31, compared to net income of $85.1 million, or $0.52 per diluted share for the fourth quarter of 2015. The company attributed the decrease to lower home sales revenue and a $33.9 million decrease in home building gross margin, resulting in a 220 basis point decrease in home building gross margin percentage. The gain met analyst expectations.
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