TOUSA (TOUSQ) 8-K TOUSA Reports 108% Increase in 2006 First Quarter Net Income

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 8, 2006

TECHNICAL OLYMPIC USA, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-32322	76-0460831
(State or other jurisdiction of incorporation or organization)	Commission File Number	(I.R.S. Employer Identification No.)
4000 Hollywood Blvd., Suite 500-N Hollywood, Florida		33021
(Address of principal executive offices)		(Zip code)

(954) 364-4000
(Registrant’s telephone number, including area code)

N/A
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

     On May 8, 2006, Technical Olympic USA, Inc. (the “Company”) issued a press release reporting financial results for the three months ended March 31, 2006, reiterating earnings guidance for 2006, and expanding on its earnings and operational guidance for 2006. A copy of the press release is attached as Exhibit 99.1.

Item 8.01 Other Events.

     In its Form 10-K for the year ended December 31, 2005 and its Form 10-Q for the quarterly period ended March 31, 2006, the Company provided certain expanded operational and financial data for its homebuilding operations. In order to facilitate period to period comparisons for operational and financial results between the quarterly periods in 2006 and 2005, the Company is hereby providing expanded operational and financial data for its homebuilding operations for the quarterly periods in 2005.

	Three Months Ended
									Year Ended
Deliveries (Homes)	3/31/05		6/30/05		9/30/05		12/31/05		12/31/05
Consolidated:
Florida		757		760		627		641		2,785
Mid-Atlantic		122		155		171		249		697
Texas		393		454		555		657		2,059
West		595		643		528		462		2,228
Consolidated total		1,867		2,012		1,881		2,009		7,769
Unconsolidated joint ventures:
Florida		—		—		126		221		347
Mid-Atlantic		15		32		71		67		185
West		126		171		331		506		1,134
Total unconsolidated joint ventures		141		203		528		794		1,666
Combined total		2,008		2,215		2,409		2,803		9,435

	Three Months Ended
									Year Ended
Deliveries Revenue	3/31/05		6/30/05		9/30/05		12/31/05		12/31/05
(in millions)
Consolidated:
Florida	$	212.9	$	223.3	$	190.8	$	202.4	$	829.4
Mid-Atlantic		47.0		64.3		75.1		103.9		290.3
Texas		94.1		110.2		134.3		162.0		500.6
West		158.4		184.3		162.6		141.0		646.3
Consolidated total		512.4		582.1		562.8		609.3		2,266.6
Unconsolidated joint ventures:
Florida		—		—		33.9		72.7		106.6
Mid-Atlantic		4.2		9.6		20.1		21.6		55.5
West		34.1		55.5		115.1		177.3		382.0
Total unconsolidated joint ventures		38.3		65.1		169.1		271.6		544.1
Combined total	$	550.7	$	647.2	$	731.9	$	880.9	$	2,810.7

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	Three Months Ended
									Year Ended
Deliveries Avg. Price	3/31/05		6/30/05		9/30/05		12/31/05		12/31/05
(in thousands)
Consolidated:
Florida	$	281	$	294	$	304	$	316	$	298
Mid-Atlantic	$	385	$	415	$	439	$	418	$	417
Texas	$	239	$	243	$	242	$	247	$	243
West	$	266	$	287	$	308	$	305	$	290
Consolidated total	$	274	$	289	$	299	$	303	$	292
Unconsolidated joint ventures:
Florida		—		—	$	269	$	329	$	307
Mid-Atlantic	$	277	$	301	$	284	$	322	$	300
West	$	271	$	324	$	348	$	350	$	337
Total unconsolidated joint ventures	$	272	$	321	$	320	$	342	$	327
Combined total	$	274	$	292	$	304	$	314	$	298

	Three Months Ended
										Year Ended
Net Sales Orders	3/31/05		6/30/05		9/30/05		12/31/05			12/31/05
Consolidated:
Florida		706		776		714		598			2,794
Mid-Atlantic		191		205		95		106			597
Texas		689		735		709		621			2,754
West		835		983		303		348			2,469
Consolidated total		2,421		2,699		1,821		1,673			8,614
Unconsolidated joint ventures:
Florida		—		—		267		124			391
Mid-Atlantic		33		67		49		(8	)		141
West		281		419		555		222			1,477
Total unconsolidated joint ventures		314		486		871		338			2,009
Combined total		2,735		3,185		2,692		2,011			10,623

	Three Months Ended
										Year Ended
Net Sales Order Value	3/31/05		6/30/05		9/30/05		12/31/05			12/31/05
(in millions)
Consolidated:
Florida	$	253.5	$	261.3	$	239.0	$	205.4		$	959.2
Mid-Atlantic		83.9		89.5		35.7		34.0			243.1
Texas		165.8		190.7		175.8		150.3			682.6
West		274.6		310.0		106.3		126.7			817.6
Consolidated total		777.8		851.5		556.8		516.4			2,702.5
Unconsolidated joint ventures:
Florida		—		—		82.1		38.0			120.1
Mid-Atlantic		10.1		24.3		16.0		(3.1	)		47.3
West		92.7		155.1		211.5		88.7			548.0
Total unconsolidated joint ventures		102.8		179.4		309.6		123.6			715.4
Combined total	$	880.6	$	1,030.9	$	866.4	$	640.0		$	3,417.9

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	Three Months Ended
									Year Ended
Net Sales Avg. Price	3/31/05		6/30/05		9/30/05		12/31/05		12/31/05
(in thousands)
Consolidated:
Florida	$	359	$	337	$	335	$	343	$	343
Mid-Atlantic	$	439	$	437	$	376	$	321	$	407
Texas	$	241	$	259	$	248	$	242	$	248
West	$	329	$	315	$	351	$	364	$	331
Consolidated total	$	321	$	316	$	306	$	309	$	314
Unconsolidated joint ventures:
Florida		—		—	$	307	$	306	$	307
Mid-Atlantic	$	305	$	362	$	327		n/a	$	336
West	$	330	$	370	$	381	$	400	$	371
Total unconsolidated joint ventures	$	327	$	369	$	355	$	366	$	356
Combined total	$	322	$	324	$	322	$	318	$	322

Backlog (Homes)	3/31/05		6/30/05		9/30/05		12/31/05
Consolidated:
Florida		2,845		2,861		2,980		2,937
Mid-Atlantic		415		465		389		246
Texas		839		1,120		1,274		1,238
West		1,549		1,889		965		851
Consolidated total		5,648		6,335		5,608		5,272
Unconsolidated joint ventures:
Florida		32		32		3,211		3,114
Mid-Atlantic		154		189		167		92
West		656		904		1,827		1,543
Total unconsolidated joint ventures		842		1,125		5,205		4,749
Combined total		6,490		7,460		10,813		10,021

Backlog Value	3/31/05		6/30/05		9/30/05		12/31/05
(in millions)
Consolidated:
Florida	$	939.5	$	977.5	$	1,033.9	$	1,036.7
Mid-Atlantic		178.8		204.0		164.6		94.7
Texas		209.1		289.6		331.0		319.3
West		505.1		630.8		318.1		303.8
Consolidated total		1,832.5		2,101.9		1,847.6		1,754.5
Unconsolidated joint ventures:
Florida		7.7		7.7		930.3		895.6
Mid-Atlantic		45.4		60.1		56.0		31.3
West		221.7		321.3		674.1		585.5
Total unconsolidated joint ventures		274.8		389.1		1,660.4		1,512.4
Combined total	$	2,107.3	$	2,491.0	$	3,508.0	$	3,266.9

4

Backlog Avg. Price	3/31/05		6/30/05		9/30/05		12/31/05
(in thousands)
Consolidated:
Florida	$	330	$	342	$	347	$	353
Mid-Atlantic	$	431	$	439	$	423	$	385
Texas	$	249	$	259	$	260	$	258
West	$	326	$	334	$	330	$	357
Consolidated total	$	324	$	332	$	329	$	333
Unconsolidated joint ventures:
Florida	$	242	$	242	$	290	$	288
Mid-Atlantic	$	295	$	318	$	335	$	341
West	$	338	$	355	$	369	$	379
Total unconsolidated joint ventures	$	326	$	346	$	319	$	318
Combined total	$	325	$	334	$	324	$	326

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

99.1          Press Release, dated May 8, 2006, of Technical Olympic USA, Inc.

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

May 8, 2006	TECHNICAL OLYMPIC USA, INC.
	/s/ RANDY L. KOTLER
	Randy L. Kotler
	Vice President -- Chief Accounting Officer

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Index to Exhibits

Exhibit Number	Description of Exhibit
99.1	Press release, dated May 8, 2006, of Technical Olympic USA, Inc.

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