Company Profile For Hovnanian Enterprises, Inc.

Hovnanian Enterprises, Inc. designs, constructs, markets and sells single-family detached homes, attached townhomes and condominiums, mid-rise and high-rise condominiums, urban infill and active adult homes in planned residential developments. The Company has delivered in excess of 280,000 homes, including 11,281 homes, as of October 31, 2008. The Company consists of two operations: homebuilding and financial services. Its homebuilding operations consist of six segments: Northeast, Mid-Atlantic, Midwest, Southeast, Southwest and West. Its financial services operations provide mortgage loans and title services to the customers of its homebuilding operations. As of October 31, 2008, the Company offered homes for sale in 284 communities in 44 markets in 18 states throughout the United States. It markets and builds homes for first-time buyers, first-time and second-time move-up buyers, luxury buyers, active adult buyers and empty nesters.

BRIEF: For the nine months ended 31 July 2009, Hovnanian Enterprises, Inc.'s revenues fell 55% to $1.16B. Net loss fell 31% to $465.9M. Revenues reflect a decrease in income from sale of homes and lower revenue from land sales. Net loss was offset by a decrease in cost of sales, lower selling, general & administrative expenses, a fall in financial services and the absence of intangible amortization expense.