NVR, Inc. (NYSE:NVR) Makes New highs on Shining results

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Dallas, TX 10/21/2009 03:06 PM GMT (TransWorldNews)

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NVR, Inc. (NYSE:NVR) climbed 4.70% to $700.01 within few minutes of trade after it said its third-quarter net income rose to $72.1 million, or $11.59 a share, from $36.6 million, or $6.12 a share, in the third quarter last year. Home-building revenue fell to $792.5 million from $928.3 million. NVR shares have risen nearly 47% for the year-to-date period.

Today the stock made a new 52-week high at $700.05.

NVR, Inc. is engaged in the construction and sale of single-family detached homes, townhomes and condominium buildings. To fully serve customers of its homebuilding operations, it also operates a mortgage banking business. It conducts its homebuilding activities directly, except for Rymarc Homes, which is operated as a wholly owned subsidiary.

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