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HOV's 2006 guidance lowering was due to charges relating to recent acquisitionas of Cambridge, First Home Builders Of Florida (which operates in Lee County's Lehigh Acres and Fort Myers) and Town and Country Homes:

"-- At Town & Country Homes, we look at each home as if we were going to live there ourselves. Starting as a small, family-owned company close to a half-century ago, we evolved into one of the most prominent builders and developers in the nation. Award-winning, vigilant in our efforts to build homes where people want to live, to raise their families, to settle down and feel at home for years to come. Acquired in March 2005 by Hovnanian Enterprises, Inc a nationally recognized homebuilding company, Town & Country Homes is now a part of one of the top 10 builders in the United States."

"-- First Home Builders of Florida is a member of the K. Hovnanian Company, a publicly held national homebuilding leader (NYSE-HOV). Headquartered in Red Bank, N.J., Hovnanian is recognized as one of the nation's top 10 homebuilders.

Hovnanian designs, constructs and markets a variety of for-sale housing in more than 300 communities in 17 states, including Florida.

For more information on Hovnanian Enterprises' recent acquisition of First Home Builders, please click here.

And for more information about Hovnanian Enterprises, please visit the company's Web site at";

"-- On March 1, 2005, Cambridge Homes was acquired by K Hovnanian Enterprises, a publically held corporation traded on the New York Stock Exchange and one of the leading homebuilders in the nation. Established in 1959, K. Hovnanian has earned the trust of more than 150,000 homebuyers, many of whom have relocated or moved up to another K. Hovnanian home -- an honor that underscored their confidence in the company.

To learn more about K. Hovnanian Homes, visit the web site at"

Although part and important parcel of the call, the Street mob mentality lashed out at an otherwise great quarterly result and strong fundamentals company, they did the same to RYL and TOL not too long ago, they're not FOOLS, they're just plain IDIOTS!
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