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Hovnanian Enterprises Inc

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BUSINESS
June 2, 2004 | Roger Vincent
Santa Monica developer Watt Commercial Properties sold a high-rise condominium project it recently completed in downtown San Diego to K. Hovnanian Cos. of California for $106 million. The Acqua Vista complex includes 382 units in twin 18-story towers, connected by five- and eight-story buildings with two interior courtyards. It covers an entire block in the city's Little Italy district. Watt's financial partner in the project was Fidelity Management Trust Co.
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BUSINESS
September 18, 2007 | From Times Staff and Wire Reports
Struggling builder Hovnanian Enterprises Inc. on Monday claimed "huge success" with its weekend sales blitz, which included six-figure discounts on homes being built or completed in 19 states. The preliminary results from the "Deal of the Century" event exceeded expectations, said Ara K. Hovnanian, president and chief executive.
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BUSINESS
January 13, 2005 | From Reuters
Home builder Hovnanian Enterprises Inc. warned that its first-quarter earnings would be hurt by the severe wet weather in California, which kept it from staying on schedule to complete land development activities, exterior finishing work and landscaping. The Red Bank, N.J.-based company expects its first-quarter earnings will be less than its previous view of $1.40 a share. Analysts on average expect $1.42 for that quarter, according to Reuters Estimates.
BUSINESS
September 7, 2006 | Annette Haddad, Times Staff Writer
Three of the nation's biggest home builders issued downbeat news about the housing market Wednesday, warning that buyers' increasing wariness could affect their businesses more severely than previously thought. Citing weaker-than-expected demand, Los Angeles-based KB Home cut its full-year profit forecast for the second time in three months. Separately, Red Bluff, N.J.-based Hovnanian Enterprises Inc. said quarterly profit dropped 36%. And Robert Toll, chief executive of Horsham, Pa.
BUSINESS
August 4, 1995 | DEBORA VRANA, TIMES STAFF WRITER
A major East Coast home-builder that entered the Southern California housing market just last year has laid off 14 workers in Orange County and San Diego, and closed its San Diego division. Some real estate sources said the home-builder, Hovnanian Enterprises Inc., may scale back its Southern California operations even more in the wake of declining home sales and housing prices here, but Nick Pappas, president of the company's Newport Beach division, insisted that Hovnanian is "here to stay."
BUSINESS
September 18, 2007 | From Times Staff and Wire Reports
Struggling builder Hovnanian Enterprises Inc. on Monday claimed "huge success" with its weekend sales blitz, which included six-figure discounts on homes being built or completed in 19 states. The preliminary results from the "Deal of the Century" event exceeded expectations, said Ara K. Hovnanian, president and chief executive.
BUSINESS
September 7, 2006 | Annette Haddad, Times Staff Writer
Three of the nation's biggest home builders issued downbeat news about the housing market Wednesday, warning that buyers' increasing wariness could affect their businesses more severely than previously thought. Citing weaker-than-expected demand, Los Angeles-based KB Home cut its full-year profit forecast for the second time in three months. Separately, Red Bluff, N.J.-based Hovnanian Enterprises Inc. said quarterly profit dropped 36%. And Robert Toll, chief executive of Horsham, Pa.
BUSINESS
June 15, 1994 | DEBORA VRANA, TIMES STAFF WRITER
In another sign that Orange County's housing market is recovering, a New Jersey home builder has purchased StoneBrook Homes in Newport Beach and acquired 98 housing sites in Yorba Linda. Hovnanian Enterprises Inc., the nation's 10th-largest home builder, purchased StoneBrook for less than $1 million, but possible incentives to management if the company is successful could push the purchase price to about $2 million, according to Nick Pappas, president of K. Hovnanian Cos.
BUSINESS
December 20, 2001 | From Times Staff and Wire Reports
Home builder Hovnanian Enterprises, moving to claim a bigger stake in the brisk housing market in the Inland Empire, said Wednesday it agreed to acquire Forecast Group in Rancho Cucamonga for about $225 million. The deal would elevate Hovnanian Enterprises into the ranks of the nation's 10 largest home builders and make the combined company the second-largest builder in Southern California behind KB Home.
BUSINESS
December 6, 2004
Today * U.S. Trade Representative Robert B. Zoellick meets the new European Union trade commissioner, Peter Mandelson, in Paris. * Circuit City Stores Inc. and Navistar International Corp. release quarterly earnings. Tuesday * Kroger Co. and Hovnanian Enterprises Inc. release quarterly earnings. * Labor Department reports on third-quarter productivity and costs. * Federal Reserve reports on consumer credit for October. Wednesday * AutoZone Inc. releases quarterly earnings.
BUSINESS
January 13, 2005 | From Reuters
Home builder Hovnanian Enterprises Inc. warned that its first-quarter earnings would be hurt by the severe wet weather in California, which kept it from staying on schedule to complete land development activities, exterior finishing work and landscaping. The Red Bank, N.J.-based company expects its first-quarter earnings will be less than its previous view of $1.40 a share. Analysts on average expect $1.42 for that quarter, according to Reuters Estimates.
BUSINESS
June 2, 2004 | Roger Vincent
Santa Monica developer Watt Commercial Properties sold a high-rise condominium project it recently completed in downtown San Diego to K. Hovnanian Cos. of California for $106 million. The Acqua Vista complex includes 382 units in twin 18-story towers, connected by five- and eight-story buildings with two interior courtyards. It covers an entire block in the city's Little Italy district. Watt's financial partner in the project was Fidelity Management Trust Co.
BUSINESS
December 20, 2001 | From Times Staff and Wire Reports
Home builder Hovnanian Enterprises, moving to claim a bigger stake in the brisk housing market in the Inland Empire, said Wednesday it agreed to acquire Forecast Group in Rancho Cucamonga for about $225 million. The deal would elevate Hovnanian Enterprises into the ranks of the nation's 10 largest home builders and make the combined company the second-largest builder in Southern California behind KB Home.
BUSINESS
August 4, 1995 | DEBORA VRANA, TIMES STAFF WRITER
A major East Coast home-builder that entered the Southern California housing market just last year has laid off 14 workers in Orange County and San Diego, and closed its San Diego division. Some real estate sources said the home-builder, Hovnanian Enterprises Inc., may scale back its Southern California operations even more in the wake of declining home sales and housing prices here, but Nick Pappas, president of the company's Newport Beach division, insisted that Hovnanian is "here to stay."
BUSINESS
June 15, 1994 | DEBORA VRANA, TIMES STAFF WRITER
In another sign that Orange County's housing market is recovering, a New Jersey home builder has purchased StoneBrook Homes in Newport Beach and acquired 98 housing sites in Yorba Linda. Hovnanian Enterprises Inc., the nation's 10th-largest home builder, purchased StoneBrook for less than $1 million, but possible incentives to management if the company is successful could push the purchase price to about $2 million, according to Nick Pappas, president of K. Hovnanian Cos.
BUSINESS
June 4, 2009 | TIMES WIRE REPORTS
Home builders Toll Bros. Inc. and Hovnanian Enterprises Inc. reported lower second-quarter losses. Toll Brothers of Horsham, Pa., lost $83.2 million, or 52 cents a share, on sales of $398.3 million in the quarter ended April 30. The results were in line with analysts' estimates and slightly better than the loss of $93.7 million, or 59 cents a share, on $818 million in sales a year earlier. Hovnanian, based in Red Bank, N.J., reported it cut its second-quarter loss to $118.6 million from a loss of $340.
CALIFORNIA | LOCAL
October 1, 2009 | Times Staff and Wire Reports
Kevork S. Hovnanian, 86, who fled Armenia for Iraq before coming to the United States and building a small family-run company into a major home builder, died Sept. 24 in Manhattan, the company said. The cause of death was not disclosed. In 1959, Kevork and his three brothers -- Hirair, Jirair and Vahak -- each contributed $1,000 and borrowed $20,000 to start a company to build homes in Toms River, N.J., Hovnanian Enterprises Inc. said in a news release marking its 50th anniversary.
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