UCP Profit Jumps On Higher Revenue, Tax Benefit
Builder Online
UCP, Inc. (NYSE:UCP), San Jose, on Monday morning announced net income of $9.3 million for the quarter ended Dec. 31, 2016, up from $7.6 million for the prior-year period. Net income attributable to Class A common stockholders was $7.2 million, or $0.89 per share, compared to $3.2 million, or $0.40 per share, for the prior-year period. The results included a $5.6 million tax benefit, the majority of which was in connection with the removal of UCP’s valuation allowance of $5.5 million on its deferred tax asset as of December 31, 2016.
About author
You might also like
Taylor Morrison Beats the Street with 3Q 2014 Earnings
Taylor Morrison reported strong 3Q 2014 earnings. Notably, the company has been pursuing the top-end of the market in Southern California and has been among the most aggressive buyers of
Homebuilder Confidence Stays Relatively Steady
NAHB Homebuilder Confidence Index dropped in December to 57 from 58 in November. The reading of 59 in September was a nine-year high. Readings above 50 indicate builders feel good
How Will Big Builders Use $1 Billion Plus in Tax Cuts?
By John McManus Amid, in spite of, and–quite possibly–a cause factor in the sudden paroxysm of volatility roiling global stock markets, economic strength, jobs, and wage growth among American households