M/I Homes Q1 Profit Rises - Quick Facts

(RTTNews) - M/I Homes Inc. (MHO) reported that its first-quarter net income to shareholders increased to $11.41 million or $0.41 per share, from $2.40 million or $0.11 per share, previous year. Excluding the reversal of $5.3 million of state deferred tax asset valuation allowance, net income totaled $7.3 million or $0.23 per share, for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.14 for the quarter. Analysts' estimates typically exclude special items. Total homebuilding revenue increased to $226.98 million from $182.32 million. Total revenue increased to $234.84 million from $190.73 million. Analysts expected revenue of $239.48 million for the quarter.