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Results of Quarterly Operations (Tables)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Results of Operations

Our quarterly results of operations for these periods are not necessarily indicative of future results of operations (in thousands, except per share amounts):

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

2014

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

Total revenues

 

$

248,132

 

 

$

342,563

 

 

$

477,920

 

 

$

635,001

 

Cost of homes sales and other

 

 

195,595

 

 

 

267,937

 

 

 

387,721

 

 

 

506,101

 

Impairments and lot option abandonments

 

 

468

 

 

 

104

 

 

 

552

 

 

 

1,391

 

Gross margin

 

$

52,069

 

 

$

74,522

 

 

$

89,647

 

 

$

127,509

 

Income (loss) from continuing operations

 

$

7,581

 

 

$

24,225

 

 

$

10,965

 

 

$

41,426

 

Discontinued operations, net of income taxes

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net income

 

$

7,581

 

 

$

24,225

 

 

$

10,965

 

 

$

41,426

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.06

 

 

$

0.19

 

 

$

0.07

 

 

$

0.26

 

Discontinued operations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net earnings (loss) per share

 

$

0.06

 

 

$

0.19

 

 

$

0.07

 

 

$

0.26

 

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.06

 

 

$

0.19

 

 

$

0.07

 

 

$

0.26

 

Discontinued operations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Net earnings (loss) per share

 

$

0.06

 

 

$

0.19

 

 

$

0.07

 

 

$

0.26

 

 

 

 

First

 

 

Second

 

 

Third

 

 

Fourth

 

2013

 

Quarter

 

 

Quarter

 

 

Quarter

 

 

Quarter

 

Total revenues

 

$

195,516

 

 

$

267,837

 

 

$

323,866

 

 

$

487,493

 

Cost of homes sales and other

 

 

159,567

 

 

 

211,135

 

 

 

247,119

 

 

 

371,646

 

Impairments and lot option abandonments

 

 

493

 

 

 

203

 

 

 

549

 

 

 

344,203

 

Gross margin

 

$

35,456

 

 

$

56,499

 

 

$

76,198

 

 

$

(228,356

)

Income (loss) from continuing operations

 

$

(55

)

 

$

8,441

 

 

$

19,941

 

 

$

(179,620

)

Discontinued operations, net of income taxes

 

 

189

 

 

 

(23

)

 

 

218

 

 

 

1,454

 

Net income

 

$

134

 

 

$

8,418

 

 

$

20,159

 

 

$

(178,166

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

—

 

 

$

0.06

 

 

$

0.15

 

 

$

(1.38

)

Discontinued operations

 

 

—

 

 

 

—

 

 

 

0.01

 

 

 

0.01

 

Net earnings (loss) per share

 

$

—

 

 

$

0.06

 

 

$

0.16

 

 

$

(1.37

)

Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

—

 

 

$

0.06

 

 

$

0.15

 

 

$

(1.38

)

Discontinued operations

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.01

 

Net earnings (loss) per share

 

$

—

 

 

$

0.06

 

 

$

0.15

 

 

$

(1.37

)