NVR Inc.
7601 Lewinsville Rd., Suite 300
McLean, Va. 22102
www.nvrinc.com Year founded: 1980 Industry: Real estate Revenue: $3.60 Billion Net Income/Loss: $419.79 Million Earnings per share: $48.39 Dividend: n/a Stockholder equity: $494.87 Million Auditor: KPMG LLP Stock: NVR Assets: $1.36 Billion Market capitalization: $2.83 Billion 52-week high: 541.35 10/14/2003 52-week low: 352 5/1/2003 Chairman, President and CEO: Dwight C. Schar CFO: Paul C. Saville Employees: 3852 Local employees: 1000 Description: NVR is the nation's eighth-biggest homebuilder. It sold 12,050 homes in 2003 in 19 metropolitan areas under the brand names Ryan Homes, NVHomes and Fox Ridge Homes. It also sells mortgage, settlement and title services to buyers of its houses through its NVR Mortgage and NVR Settlement Services arms. It does business mainly on the East Coast in an area stretching from South Carolina to New York. Developments: The market for housing kept booming last year, and NVR boomed right along with it. Net income rose 27 percent to $420 million, a third straight year of record profitability for a company that has also seen hard times: It went through Chapter 11 bankruptcy protection during the early 1990s recession. The number of sales completed rose 6 percent for the year, driving up income from the homebuilding business 30 percent. New orders for future home sales rose a more modest 3 percent. That growth was driven by mortgage rates that remained near record lows last year. If rates rise sharply, though, home sales would likely be hurt, one of the key risks analysts identify for NVR's outlook and part of the reason the stock slumped late in the year. Chairman Dwight C. Schar sold $178 million worth of NVR stock in 2003, and other top executives sold another $98.6 million, which worries some investors. Schar has continued to sell shares this year, though in mid-March he still held almost 600,000 shares, worth about $275 million. Executive Compensation
Chairman, President and CEO: Dwight C. Schar
Total Cash: $3,240,000.00
Total Compensation: $3,250,500.00
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