Hovnanian Enterprises Selected to Forbes List of 400 Best Big Companies
for the Fourth Consecutive Year
PRNewswire-FirstCall
Thursday, January 27, 2005
RED BANK, N.J., Jan. 27 /PRNewswire-FirstCall/ — Hovnanian Enterprises,
Inc. (NYSE: HOV), a leading national homebuilder, announced today that
for the fourth consecutive year it has been named to Forbes Platinum
400, an annual listing of “America’s Best Big Companies.” Hovnanian
ranked fifth on the list based on five-year annualized total return.
To make the list, a firm must have revenue of more than $1 billion and
rank in the upper half of one of 26 industry groups in Forbes’ composite
scoring for return on capital, sales growth and earnings growth. Forbes
also considers a company’s accounting and corporate governance practices.
“In 2004, we once again achieved significant returns on capital, as well
as revenue and earnings growth, and we are honored that Forbes has
recognized this outstanding performance and acknowledged us as one of
America’s Best Big Companies,” said Ara K. Hovnanian, President and
Chief Executive Officer of the Company. “Our achievements are a direct
result of the efforts of our operating management teams and talented
associates across the Company. We expect to continue our strong
performance in 2005 as we build on our solid market position and
implement further improvements to our operating processes.”
Hovnanian Enterprises, Inc. founded in 1959 by Kevork S. Hovnanian,
Chairman, is headquartered in Red Bank, New Jersey. The Company is one
of the nation’s largest homebuilders with operations in Arizona,
California, Delaware, Florida, Maryland, New Jersey, New York, Michigan,
Minnesota, North Carolina, Ohio, Pennsylvania, South Carolina, Texas,
Virginia and West Virginia. The Company’s homes are marketed and sold
under the trade names K. Hovnanian(R)Homes, Goodman Homes, Matzel &
Mumford, Diamond Homes, Westminster Homes, Forecast Homes, Parkside
Homes, Brighton Homes, Parkwood Builders, Great Western Homes and
Windward Homes. As the developer of K. Hovnanian’s Four Seasons
communities, the Company is also one of the nation’s largest builders of
active adult homes.
Additional information on Hovnanian Enterprises, Inc., including a
summary investment profile and the Company’s 2003 annual report, can be
accessed through the Investor Relations page of the Hovnanian website at
To be added to Hovnanian’s investor e-mail or fax
lists, please send an e-mail to [email protected] or sign up at
Source: Hovnanian Enterprises, Inc.
