NVR Inc.

From the April 28, 1997 Washington Post

	'96 (in $ 000s)	% Change From '95
Revenue	1,076,699	19.4
Net Income	25,781	48.8
Rank Last Year: 23

Description:
NVR is the holding company for Ryan Homes and NVHomes, which build detached and town houses in 10 mostly mid-Atlantic states, from New York to South Carolina, and west to Ohio. In the Washington area, NVR is the region's largest builder, selling 3,755 homes last year—about 14 percent of all the new homes here. NVR Mortgage Co., which has offices nationwide, is another part of NVR.

Business Resume: Contact Info -- 7601 Lewinsville Rd., Suite 300 McLean, Va. 22102 703-761-2000 Main Business -- Home building and finance Founded -- 1987 Chairperson -- Dwight C. Schar (CEO) President -- -- Employees -- 1,800 D.C.-Area Employees -- 706

Developments:
Despite the very competitive Washington market, which has driven many builders to reduce their operations here, NVR continues to enlarge its Washington area presence—and improve its bottom line at the same time.

For 1996 NVR reported a 49 percent increase in its profit and 19 percent increase in revenue. Home settlements were up 17 percent, to 5,695 units nationwide from 4,857 a year ago.

NVR Chairman Dwight C. Schar attributed the improved earnings to the company's increased emphasis on controlling costs. "The interesting thing that has happened to us is that in the process [of controlling costs], our revenues have gone up" because the company has been able to become more competitive in pricing, Schar said.

While maintaining a large presence in the D.C. area, NVR continues to expand geographically to cities contiguous to existing operations. Last year the company continued its push into Nashville and began building homes in Philadelphia.

NVR Mortgage reported an increase in operating income in 1996, to $2.6 million from $1.2 million a year earlier. A sharp increase in the number of mortgage closings and an aggressive cost reduction program were cited as the chief reasons for the improved earnings.

Three years ago NVR embarked on an aggressive stock repurchasing program. The company continued that program last year, announcing a plan to buy back up to 2 million shares of outstanding stock. In early March the company authorized $10 million to buy additional shares on the open market.