Dominion Homes sees third-quarter sales fall 24.8 percent
Columbus, Ohio-based home builder Dominion Homes released a preliminary third-quarter sales report showing sales fell 24.8 percent to $29.6 million from $39.4 million in the same period last year.
Those figures reflect 153 homes sold in the third quarter, down from 209 homes sold during last year’s third quarter.
Dominion reported a backlog of 275 sales contracts — a total value of $57.8 million — down from 419 sales contracts in the same period last year, or a value of $84.6 million.
The average sales price for a home in backlog, the company reported, rose 5.7 percent to $210,300 from $202,000 last year.
The company will release its full financial results for the third quarter next month. The company had losses of $41.2 million in the first six months of the year, compared with a narrower loss of $11 million in the same period last year.
Dominion Homes builds homes and condominiums in Ohio and Kentucky.
NLBMDA kicks off annual conference
Las Vegas The National Lumber and Building Materials Association (NLBMDA) kicked off its Industry Summit yesterday by deciding to turn its day-to-day operations over to a trade association management company. In a unanimous decision, the NLBMDA board voted on Oct. 4 to sign a contract with SmithBucklin, which will handle staffing, accounting, educational programs, government relations, and other functions.
The NLBMDA will close its office in Washington D.C. and move into SmithBucklin’s office, also inside the Beltway, during a 60-day transition period. By contracting with an outside firm, the trade association will save approximately $170,760 a year, according to an analysis by SmithBucklin.
Other issues discussed during the board meeting were state and federal legislation that deal with frivolous lawsuits, illegal logging, OSHA regulations and organized scams against retailers.
The three-day conference, held at the J.W. Marriott, continues today with sessions on strategic visioning and market differentiation. Other events include a silent auction, a golf tournament and networking receptions.
Weyerhaeuser named to sustainability index
Forest products giant Weyerhaeuser has been named to the Dow Sustainability Index, a service that tracks the financial performance of the leading sustainability-driven companies worldwide.
According to a joint press release from Dow Jones and Weyerhaeuser, the company is the only North American forest products company now in the industry category of the index.
The sustainability index conducts an annual assessment of corporations and their impact on economic, environmental and social issues. The goal is to show how sustainability “is being defined in the global marketplace,” while helping asset managers track sustainability-driven investment portfolios, according to the companies.
“Sustainability is a core value at Weyerhaeuser,” said Steven Rogel, chairman, president and CEO. “In all we do, from renewing our forests, to reducing the environmental footprint of our manufacturing operations, to building homes, to recovering paper for recycling, Weyerhaeuser strives to act sustainably.”
Selection to sustainability index was based on a third party assessment of Weyerhaeuser – the company took part in Dow Jones’ review process by submitting an application and providing other company information.
The Federal Way, Wash.-based company plans to release its most recent earnings statement on Oct. 31.