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Subject: NVR Posts Profit Of $3.2 Million<
Date: Wed, 4 Nov 92 04:54:43 EST
Message-ID: <53.1992Nov4.045444@AmeriCast.com>

NVR Posts Profit Of $3.2 Million<

McLean home builder NVR L.P., which is operating under bankruptcy
court protection, reported that it earned $3.2 million (10 cents
per limited partnership unit) in the third quarter, compared with
a profit of $2.2 million (5 cents) in last year's third quarter.

 Its third-quarter revenue fell to $225 million from $255.3 mil-
lion in the year-ago quarter.

 NVR, which owns Ryan Homes and NVHomes, warned that its third-
quarter results are not directly comparable to last year's
results, primarily because it stopped incurring interest expenses
on its $205 million in bond debt this year as a result of its
Chapter 11 bankruptcy filing in April.

  NVR's emergence from Chapter 11 has been stymied by its inabil-
ity to find long-term financing.

  In the first nine months of the year, the company lost $155
million, compared with a loss of $20.3 million in the same period
last year. Revenue was $626 million, up  from $617.7 million.<
02:46 11-04C9999-----

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