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Was there an article? And if so, could you tell me the date it appeared?

It appeared in the 01/21/05 issue. Better yet, read it on Yahoo!

http://biz.yahoo.com/ibd/050120/newamer_1.html

The nation's ninth largest builder, Hovnanian Enterprises (NYSE:HOV - News), has seen housing orders rise 35% the past few years -- in part because it's grabbing business from smaller rivals.

And, strangley, this:

Hovnanian's cash flow and balance sheet give it the prowess to do that. It posted $4.2 million in sales for fiscal 2004, which ended in October. That was up 30% from the prior year. Earnings gained 36% to $5.35 a share.

Cash could be spent on land, but I'm not sure how this would ring into the operations cash flow.

dcanfiel
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