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William Lyon

BUSINESS
April 11, 2006 | Annette Haddad, Times Staff Writer
William Lyon went on the offensive Monday, bumping up his bid to buy the shares of William Lyon Homes Inc. that he doesn't already own to $100 a share from $93 originally offered last month. The sweetened bid may be enough to finally allow Lyon, the company's chairman and chief executive, to take the Newport Beach-based home builder private. A committee of outside directors recommended Monday that shareholders accept the latest offer, after having told Lyon 10 days earlier to improve his bid.
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BUSINESS
March 18, 2006 | Annette Haddad, Times Staff Writer
The general hasn't given up the fight. On Friday, for the second time in a year, the founder and chief executive of William Lyon Homes made an unsolicited offer to take the Newport Beach-based real estate developer private. William Lyon, who served as a pilot in the Korean War and later commanded the Air Force Reserve, offered to buy the 51% of the company he doesn't already own for $93 a share. The news sent the shares soaring $23.30, or 31%, to $99.
BUSINESS
July 26, 2005 | From a Times Staff Writer
William Lyon, the chairman of Newport Beach-based William Lyon Homes, who in April announced a bid to take the company private, on Monday issued a rebuke of the special committee of directors set up to consider the bid. Lyon on April 26 offered $82 a share for the publicly held shares of the home builder. The stock immediately soared above his offering price. On June 20, the special committee rejected the offer as "inadequate." The chairman subsequently withdrew his bid.
BUSINESS
May 11, 2005 | Annette Haddad
William Lyon Homes reported a 33% jump in first-quarter profit as revenue dipped 3%. The Newport Beach-based home builder said net profit rose to $20.5 million, or $2.36 a share, compared with $15.4 million, or $1.55, a year ago. Revenue fell to $246.7 million from $254.5 million. Net new home orders for the quarter ended March 31 dropped 20% to 873 homes, and the average number of communities fell 14% to 38 from the year before.
BUSINESS
April 27, 2005 | Annette Haddad and Tom Petruno, Times Staff Writers
William Lyon, controlling shareholder of William Lyon Homes, said Tuesday that he planned to take the Newport Beach-based builder private by buying the minority interest in the company's common stock for $82 a share. Lyon, 82, a retired Air Force major general who prefers the appellation "General," owns a 48% equity stake and acts as chief executive and board chairman. Trusts controlled by his son, William H. Lyon, own an additional 24% of the company's outstanding shares.
BUSINESS
March 2, 2005 | Annette Haddad, Times Staff Writer
William Lyon Homes said Tuesday that the recent winter storms, combined with fewer new projects, would reduce 2005 earnings by 10% to 15%. Lyon President Wade Cable said the recent series of storms in the West, where most of the company's projects are located, had caused significant production delays. Lyon now is anticipating that revenue and earnings per share will fall below 2004, when the company's profit more than doubled to $171.6 million, or $17.55 a share.
BUSINESS
November 5, 2004 | Annette Haddad, Times Staff Writer
William Lyon Homes said Thursday that third-quarter profit more than tripled as the average price of its homes jumped 43%. The Newport Beach company reported net income for the period ended Sept. 30 of $44.9 million, or $4.51 a share, compared with $14.9 million, or $1.49, a year earlier. Operating revenue jumped to $474.9 million from $214 million a year earlier. Revenue included $153.2 million from consolidated joint ventures with no comparable amount last year.
BUSINESS
October 8, 2004 | From a Times Staff Writer
Newport Beach home builder William Lyon Homes said orders fell 33% in the third quarter as the company exhausted much of its inventory earlier than expected. Strong sales in the first and second quarters helped reduce third-quarter orders to 659 homes from 977 in the year-earlier period. "We are completely sold out in San Diego County," President Wade Cable said. He said sales in Orange County had slowed as prices had skyrocketed.
BUSINESS
August 5, 2004 | Annette Haddad
Profit at William Lyon Homes more than doubled in the second quarter, jumping to $31.1 million, or $3.14 a share, from $13.8 million, or $1.38, a year earlier. Home-sale revenue also climbed, to $367.1 million from $139.7 million. The Newport Beach home builder also reported a record increase in new-home orders of 1,127 for the period ended June 30. Because of the strong results, the company raised its outlook for 2004 to between $15.50 and $15.
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