Schuler profits increase 29 percent

Advertiser Staff

Schuler Homes Inc. sold more homes at slightly lower prices during its fiscal third-quarter ended Dec. 31, which led to $27.1 million in quarterly earnings, a 29 percent increase over $21.1 million in the year-ago quarter.

Schuler completed 1,495 home sales (90 in Hawai'i) during the quarter, compared with 1,188 homes (95 in Hawai'i) in the year-ago quarter, the company said Thursday. The average sales price dropped to $285,000 from $292,000 during the same period.

Quarterly revenue totaled $415.4 million, 17.5 percent more than the $353.6 million for the year-ago quarter.

Schuler, based in Hawai'i and California, builds homes in California, Colorado, Hawai'i, Washington, Oregon and Arizona.