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Home Sweet Homebuilder
By Stephen D. Simpson, CFA
June 1, 2005

Hey, anybody hear that we're in a housing boom?

Yeah, I thought so.

One of the 10 largest homebuilders in the country, Hovnanian Enterprises (NYSE: HOV), reported sound second-quarter results. Revenue grew 32% for the quarter and net income grew 51% with better margins.

Although new orders dipped a bit in the quarter, Hovnanian delivered about 12% more homes in the quarter than the year-ago level...
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