THE WOODLANDS, Texas, Feb. 5, 2014 (GLOBE NEWSWIRE) -- LGI Homes, Inc. (Nasdaq:LGIH), one of the nation's fastest growing homebuilders, today announced 119 homes closed in January 2014, up from 82 home closings in January 2013, representing year-over-year growth of 45.1%. January 2013 home closings include those from the Company's pre-IPO joint ventures. As of the end of January 2014, the Company had 27 active selling communities; the Company had 15 active selling communities at the end of January 2013.
"This is a solid start to the year," said Eric Lipar, LGI Homes chairman and CEO. "We have made steady progress growing our community count over the past year and these communities are performing in line with our expectations. Therefore, we continue to have a positive outlook on 2014 and believe we will have 36 active selling communities at the end of 2014 and close 2,200 homes during the year, assuming that general economic and mortgage availability conditions in 2014 are similar to those in 2013."
The Company expects to report its year end 2013 results in March and its 2014 first quarter results in May.
About LGI Homes, Inc.
Headquartered in The Woodlands, Texas, LGI Homes, Inc. engages in the design and construction of homes in Texas, Arizona, Florida, Georgia and New Mexico. LGI's core markets include Houston, San Antonio, Dallas/Fort Worth, Austin, Phoenix, Tampa, Orlando, Atlanta and more recently, Tucson and Albuquerque. For more information about the Company and its new home developments please visit the Company's website at www.LGIHomes.com.
Any statements made in this press release that are not statements of historical fact, including statements about the Company's beliefs and expectations, are forward-looking statements within the meaning of the federal securities laws, and should be evaluated as such. For more information concerning factors that could cause actual results to differ materially from those contained in the forward-looking statements please refer to the "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" sections of the prospectus filed by the Company with the Securities and Exchange Commission ("SEC") on November 8, 2013 and similar sections in the Company's subsequent filings with the SEC. The Company bases these forward-looking statements on its current expectations, plans and assumptions that it has made in light of its experience in the industry, as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances and at such time. As you read and consider this press release, you should understand that these statements are not guarantees of future performance or results. The forward-looking statements are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Investor Relations
Taylor Renberg, (281) 210-2619
Source: LGI Homes