Mr. Hovnanian: Our company was founded in 1959 by my father, who is still the Chairman. We started out in the Northeast and expanded through the years to additional geographic markets. We have grown quite significantly, both through organic means and acquisitions. We are about to finish our 2003 fiscal year (it ends October 31) and we are projecting to have revenues over $3 billion and after-tax earnings in excess of $7.50 per diluted share. We have also announced that we are projecting revenues for our next fiscal year to exceed $3.8 billion and earnings per share to exceed $8.25.
TWST: What have been the key elements in the company's success
over the last 43 years?
Mr. Hovnanian: We have had, and continue to have, a great team of
individuals in our local markets. These are people who really
understand the business and the key drivers in their local
markets. That has enabled us to grow and, on top of that, we have
added some great individuals through the acquisitions over the
years. The combination has resulted in a strong team of dedicated
professionals.
Tickers included in this excerpt: HOV
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