M.D.C. Holdings, Inc. ( www.RichmondAmerican.com ), one of the nation's largest homebuilders building under the name Richmond American Homes, today announced its expansion into the Dallas/Fort Worth Metroplex. John R. Smith has joined the Company as President of this new division.
Mr. Smith has 25 years of experience in the homebuilding industry, including over 13 years in Dallas/Fort Worth. Most recently, Mr. Smith served as President of Morrison Homes' Dallas Division managing all aspects of their start-up operation.
David D. Mandarich, MDC's President and Chief Operating Officer, commented, "The overall strength of the Dallas/Fort Worth market has led us to expand in this area. We are seeking to benefit from the positive economic forces driving growth in the Dallas/Fort Worth market and are very pleased to have John's depth and breadth of experience to guide us in our start-up efforts."
M.D.C. Holdings reached new heights in 2001, completing the best year in the Company's 30-year history. The Company generated more than $2.1 billion in revenues and closed 8,174 homes. In order to facilitate the continued quality growth of their enterprise, MDC is committed to pursuing strategic and opportunistic expansion into new markets.
MDC is one of the largest and best performing homebuilders in the United States. The Company also provides mortgage financing, primarily for MDC's homebuyers, through its wholly owned subsidiary HomeAmerican Mortgage Corporation. MDC is a major regional homebuilder with a significant presence in some of the country's best housing markets. Richmond American Homes is the largest homebuilder in Colorado; among the top five homebuilders in northern Virginia, Phoenix and Tucson; among the top ten homebuilders in suburban Maryland, Las Vegas, and Northern California; and has a significant presence in South California.
Contact: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Inc., +1-303-804-7706, email@example.com; or Rodger Van Allen of Rubenstein
Associates, Inc., +1-212-843-8000, firstname.lastname@example.org, for M.D.C.
The Richmond American Homes companies (RAH), HomeAmerican Mortgage Corporation (HMC), American Home Insurance Agency (also known as AHI Insurance Agency) (AHI) and American Home Title and Escrow Company (AHT) are owned, directly or indirectly, by M.D.C. Holdings, Inc. and, therefore, are affiliated companies. Each of RAH, HMC, AHI and AHT offers services independently of each other, and if you obtain a product or service from one company, you are not required to utilize the services of, or obtain products from, the other company. Your decision to use a company that is not affiliated with RAH, HMC, AHI or AHT will not affect your ability to obtain products and services from these companies.
Certain statements on the Site, including statements regarding the MDC Companies' business, financial condition, results of operation, cash flows, strategies and prospects, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as "likely," "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or the negative of such terms and other comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the MDC Companies to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Additional information about the risks and uncertainties applicable to the MDC Companies' business is contained in MDC's filings with the Securities and Exchange Commission, including MDC's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. The MDC Companies undertake no duty to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in MDC's subsequent filings with the Securities and Exchange Commission, press releases and/or presentations should be considered.