FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the period ended April 30, 2001
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OR 1934
For the transition period from N/A
---
Commission File Number 33-72106
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THE FORECAST GROUP "Registered Tradename", L.P.
(Exact Name of Registrant as specified in its charter)
California 33-0582072
---------- ----------
(State of Organization) (IRS Employer Identification Number)
10670 Civic Center Drive, Rancho Cucamonga, California 91730
- ---------------------------------------------------- -----
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (909) 987-7788
Securities Registered Pursuant to Section 12(b) of the Act:
Title of Each Class Name of Each Exchange on Which Registered
------------------- -----------------------------------------
None None
Securities Registered Pursuant to Section 12(g) of the Act:
None
Indicated by check mark whether the Registrant (1) has filed all reports
required to be filed by Sections 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the Registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
YES X NO___
There was no voting stock held by non-affiliates of the Registrant
at May 25, 2001.
THE FORECAST GROUP "Registered Tradename", L.P.
CONSOLIDATED BALANCE SHEETS
April 30, 2001 October 31, 2000
(Unaudited)
-------------- ----------------
Assets:
- -------
Cash and Cash Equivalents $22,994 $26,607
Accounts Receivable 7,536 809
Accounts and Notes Receivable,
Related Parties 7,040 14,149
Real Estate Inventory 186,932 142,768
Property and Equipment, Net 388 435
Other Assets 2,156 1,565
-------- --------
Total Assets $227,046 $186,333
======== ========
Liabilities & Partners' Equity:
- -------------------------------
Accounts Payable $32,386 $31,382
Accrued Expenses 6,681 6,498
Notes Payable:
Senior Notes at 11 3/8% due
December 2000 - 19,700
Collateralized by Real Estate
Inventory 81,899 44,028
Unsecured 4,027 -
Other Notes Payable - 3,525
-------- --------
Total Notes Payable 85,926 67,253
-------- --------
Total Liabilities $124,993 $105,133
Partners' Equity 102,053 81,200
-------- --------
Total Liabilities &
Partners' Equity $227,046 $186,333
======== ========
[FN] See notes to consolidated financial statements.
THE FORECAST GROUP "Registered Tradename", L.P.
CONSOLIDATED STATEMENTS OF INCOME AND PARTNERS' EQUITY
FOR THE SIX AND THREE MONTHS ENDED APRIL 30, 2001 AND 2000
(Unaudited)
(Amounts in 000's)
Six Months Ended Three Months Ended
April 30, April 30,
----------------- -------------------
2001 2000 2001 2000
------------------- -------------------
Homebuilding Revenues $192,460 $130,086 $109,989 $69,045
Cost of Homes Sold 146,028 103,692 82,209 54,910
-------- -------- -------- -------
Gross Profit 46,432 26,394 27,780 14,135
-------- -------- -------- -------
Land Sale Revenues 19,739 - 17,215 -
Cost of Land Sold 18,296 - 15,385 -
------- -------- -------- -------
Gain on Land Sales 1,443 - 1,830 -
------- -------- -------- -------
Operating Expenses:
- -------------------
Selling & Marketing Expenses 8,454 7,999 4,535 4,165
General & Administrative Expenses 13,385 9,259 7,600 5,085
Other Operating Costs 28 1,342 18 68
------ ------ ------ -----
Total Operating Expenses 21,867 18,600 12,153 9,318
------ ------ ------ -----
Operating Income 26,008 7,794 17,457 4,817
Other Income (Expenses):
- ------------------------
Interest Income 539 482 275 299
Other Income and Expenses, net (129) 438 (464) 256
------- ------ ------- ------
Total Other Income (Expenses) 410 920 (189) 555
------- ------ ------- ------
Net Income $26,418 $8,714 $17,268 $5,372
======= ====== ======= ======
Partners' Equity at
Beginning of Period $81,200 $53,018 $89,485 $54,335
Capital Distribution (5,565) (2,025) (4,700) -
Net Income this Period 26,418 8,714 17,268 5,372
------- ------- ------- ------
Net Partners' Equity at
End of Period $102,053 $59,707 $102,053 $59,707
======== ======= ======== =======
[FN] See notes to consolidated financial statements.
THE FORECAST GROUP "Registered Tradename", L.P.
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE SIX MONTHS ENDED APRIL 30, 2001 AND 2000
(Unaudited)
(Amounts in 000's)
For the Six Months Ended
April 30,
-------------------------
2001 2000
-------------------------
Operating Activities:
- ---------------------
Net Income $26,418 $8,714
Adjustments to Reconcile Net Income to
Net Cash Used for Operating Activities
Depreciation on Property and Equipment 122 142
Loss on Sale of Property and Equipment - 1
Gain on Land/Lot Sales (1,443) -
Other Operating Costs 28 1,342
Equity Income of Unconsolidated Joint Venture 431 202
(Increase)/Decrease in Accounts Receivable (6,727) 3,302
(Increase) in Real Estate Inventory (42,749) (23,214)
(Increase/Decrease in Other Assets (1,463) 12
(Increase)/(Decrease) in Accounts Payable
and Accrued Exp. 1,187 (7,240)
------- -------
Net Cash Used for Operating Activities (24,196) (16,739)
------- -------
Investing Activities:
- ---------------------
(Contribution) to Joint Venture - (5)
Distribution from Joint Venture 441 127
(Additions) to Property and Equipment (75) (28)
------ -------
Net Cash Provided by Investing Activities 366 94
------ -------
Financing Activities:
- --------------------
Capital (Distributions) (5,565) (2,025)
Decrease in Capital Note Receivable from Partner - 300
(Increase)/Decrease in Accounts and
Notes Receivable, Related Parties 7,109 (6,675)
Proceeds from Notes Payable, Collateralized by
Real Estate 159,420 103,504
Proceeds from Notes Payable, Unsecured 6,775 -
Proceeds from Notes Payable, Other 3,769 156
Principal (Payments) on Notes Payable,
Senior Notes (19,700) -
Principal (Payments) on Notes Payable,
Collateralized by Real Estate (119,316) (79,465)
Principal (Payments) on Notes Payable,
Unsecured (4,981) -
Principal (Payments) on Notes Payable, Other (7,294) (506)
------- -------
Net Cash Provided by Financing Activities 20,217 15,289
------- -------
Decrease in Cash and Cash Equivalents (3,613) (1,356)
Cash and Cash Equivalents at Beginning of Period 26,607 22,594
------- -------
Cash and Cash Equivalents at End of Period $22,994 $21,238
======= =======
[FN] See notes to consolidated financial statements.
THE FORECAST GROUP "Registered Tradename", L.P.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
1. Basis of Presentation
The accompanying unaudited condensed consolidated financial
statements have been prepared in accordance with generally accepted
accounting principles for interim financial information and with the
instructions to Form 10-Q and Article 10 of Regulation S-X.
Accordingly, they do not include all of the information and footnotes
required by generally accepted accounting principals for complete
financial statements. In the opinion of management, all adjustments
consisting of normal recurring accruals) considered necessary for a
fair presentation have been included.
These consolidated financial statements should be read in
conjunction with the consolidated financial statements and related
disclosures contained in the Form 10-K for the year ended October 31,
2000 (File No. 33-72106) as filed with the Securities and Exchange
Commission.
The results of operations for the six months ended April 30, 2001,
do not necessarily indicate the results that can be expected for the
full fiscal year.
The results of operations for the six months ended April 30, 2001,
and this Form 10-Q, also may be interpreted as, or actually contain,
"forward looking" information, as that term is defined by the Securities
and Exchange Commission. To the extent such forward looking information
is contained in this filing, the Company intends to use these disclosures
to take advantage of the "Safe Harbor" provisions set out in the rules
and regulations of the Securities and Exchange Commission, and thus
strongly recommends that prior to making an investment decision a
prospective investor should carefully consider the factors mentioned in
the Form 10-K for the year ended October 31, 2000 in relation to that
"forward looking" information, as well as other financial and business
information that may be available from a variety of sources regarding
the home building industry as a whole, including, but not limited to:
- Changes in national economic conditions such as interest rates,
consumer confidence and job loss or formation statistics
- Changes in economic conditions in the markets in which the
Company operates
- Fluctuations in mortgage and federal funds interest rates
- Cost increases resulting from adverse weather conditions,
shortages of labor and/or construction materials
- Changes in governmental regulations which may delay new home
development or impose additional costs or fees.
2. Inventory
A summary of inventory is as follows:
(Amounts in 000's)
April 30, 2001 October 31, 2000
-------------- ----------------
Homes Under Construction $128,219 $71,399
Development Projects in Process 33,589 49,501
Unimproved Land held for Future Development 13,058 15,293
Model Homes 12,066 6,575
-------- --------
Total $186,932 $142,768
======== ========
3. Interest
The following summarizes the components of interest incurred,
capitalized, expensed and paid:
(Amounts in 000's)
For the Six Months For the Three Months
Ended Ended
April 30, April 30,
------------------ --------------------
2001 2000 2001 2000
------------------ --------------------
Interest incurred and capitalized $5,114 $5,250 $2,458 $2,832
Interest incurred and expensed - - - -
------ ------ ------ ------
Total Interest Incurred $5,114 $5,250 $2,458 $2,832
====== ====== ====== ======
Capitalized interest amortized to
cost of homes sold $3,800 $3,556 $1,772 $1,752
Interest paid $5,967 $5,250 $2,458 $2,272
4. Transactions With Affiliates
During the six months ended April 30, 2001, the Company sold land
in Bullhead, Arizona to an affiliated entity in which Mr. Previti is
the 100% owner for a sales price of $1,713,361. The Company received
cash payments of $400,000 and an unsecured note of $1,313,000. No gain
or loss was recognized on the sale.
5. Receivables From Affiliates
During the six months ended April 30, 2001, accounts and notes
receivable from related parties decreased $7.1 million. The decrease
primarily relates to the paydown of certain receivables from affiliated
entities in which Mr. Previti is the 100% owner.
6. 11 3/8% Senior Notes Due December 2000
In February 1994, the Company issued $50,000,000 in 11 3/8% Senior
Notes through a public debt offering. On December 13, 2000, the Company
retired the remaining outstanding $19,700,000 of Senior Notes held in
the names of investors other than the Company.
7. Real Estate Held for Development and Sale
In accordance with FASB Statement No. 121, "Accounting for the
Impairment of Long-Lived Assets and for Long-Lived Assets to Be
Disposed Of" (Statement 121), when events or circumstances indicate that
an impairment to assets to be held and used might exist, the expected
future undiscounted cash flows from the affected asset or group of
assets must be estimated and compared to the carrying value of the asset
or group of assets. If the sum of the estimated future undiscounted
cash flows, excluding interest charges, is less than the carrying value
of the assets, an impairment loss must be recorded. The impairment loss
is measured by comparing the estimated fair value of the assets with
their carrying amount. Statement 121 also requires that long-lived
assets that are held for disposal be reported at the lower of the
assets' carrying amount or fair value less costs of disposal.
On an ongoing basis, management analyzes future undiscounted cash
flows for all real estate projects where impairment indicators are
present. Based upon such analysis, no provision for impairment loss
was recorded for the six months ended April 30, 2001 or 2000.
THE FORECAST GROUP "Registered Tradename", L.P.
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
CONDITION AND RESULTS OF OPERATIONS
Part I. Item 2.
Results of Operations
- ---------------------
The following table sets forth, for the period indicated, certain
income statement items as percentages of total home building sales and
certain other data. This table excludes land/lot sales revenue and
costs of land/lot sold.
Percent of Percent of
Housing Sales Housing Sales
For the Six For the Three
Months Ended Months Ended
April 30, April 30,
-------------------- -----------------------
2001 2000 2001 2000
-------------------- ----------------------
Homebuilding Revenues 100.0% 100.0% 100.0% 100.0%
Cost of Homes Sold 75.9% 79.7% 74.7% 79.5%
------ ------ ------ -------
Gross Profit 24.1% 20.3% 25.3% 20.5%
Operating Expenses:
- -------------------
Selling & Marketing Exp. 4.4% 6.1% 4.1% 6.0%
General & Admin. Expenses 7.0% 7.1% 6.9% 7.4%
Other Operating Costs 0.0% 1.0% 0.0% 0.1%
---- ----- ----- -----
Total Operating Exp. 11.4% 14.2% 11.0% 13.5%
Operating Income 12.7% 6.1% 14.3% 7.0%
==== ==== ===== ====
Amount % Amount Amount % Amount
Change Change
------------------------ ---------------------
Number of sales,
net of cancellations:
- ----------------------
Northern California 448 13.7% 394 250 -0.4% 251
Southern California 594 46.3% 406 357 63.0% 219
Arizona 9 N/A - 7 N/A -
----- ----- ---- --- ----- ----
Total 1,051 31.4% 800 614 30.6% 470
Number of closings:
- -------------------
Northern California 464 54.2% 301 272 72.2% 158
Southern California 415 14.3% 363 234 17.6% 199
Arizona 1 N/A - - 0.0% -
--- ---- --- ---- ----- ---
Total 880 32.5% 664 506 41.7% 357
Backlog units at
end of period:
- ---------------
Northern California 232 4.5% 222
Southern California 311 94.4% 160
Arizona 8 N/A -
--- ---- ----
Total 551 44.2% 382
Aggregate value of backlog (in millions) 125.1 $76.4
===== =====
Results of Operations
For the Six Months ended April 30, 2001 and April 30, 2000
Despite weather related delays in the commencement of construction
at the beginning of calendar year 2001, the Company produced record
revenues, closings and home sales for the six-month period ended
April 30, 2001, which were slightly greater than our annual business
plan projection. Housing revenues were $192.5 million, an increase of
$62.4 million, or 47.9%, from the six months ended April 30, 2000.
The closings of 880 homes was an increase of 216 closings, or 32.5%,
over the six-month period ended April 30, 2000. The record home sales
realized was 1,051 homes, representing an increase of 251 homes, or
31.4%, over the six-month period ended April 30, 2000. The increase in
these three indices was due to increased demand for housing by first-
time homebuyers that itself stemmed from the continued strength of the
affordable range of the California housing market and, to a lesser
degree, the reduction of mortgage rates during the first part of the
period. The average sales price of the homes closed in the six months
ended April 30, 2001 was $218,705, an increase of $22,792 or 11.6%, as
compared to the six-month period ended April 30, 2000. The increase in
average sales price was due primarily to the Company's ability to
increase prices in its high demand communities. The Company was
successfully able to achieve this result by carefully weighing the
affordability of its homes against the desired absorption of those same
homes, while at the same time not seeking to raise prices merely to
achieve the highest possible revenues.
Gross profit from housing sales was $46.4 million for the six
months ended April 30, 2001, representing an increase of $20 million,
or 75.9%, from the six months ended April 30, 2000. During the same
six-month period, gross profit per home increased to $52,764, from
$39,750, representing a 32.7% increase over the comparable period in
2000. Gross profit margin for the six months ended April 30, 2001 rose
to 24.1% versus 20.3% for the same period one year earlier. The
increase in gross profit and gross margin was due primarily to the
continued strength of the affordable range of the California housing
market, which permits the Company to increase sales prices while
maintaining construction costs at level amounts.
During the six months ended April 30, 2001, the Company sold 245
lots in Phoenix, Arizona, 28 lots in Perris, California, one parcel of
land located in Bullhead, Arizona, 61 lots in Oceanside, California, and
69 lots in Corona, California, all of which, in the aggregate, resulted
in net gains of $1,443,000. There were no land sales in the comparable
six-month period of 2000.
The Company's interest amortized to cost of homes sold (as a
percentage of revenue) decreased to 2.0%, for the six months ended
April 30, 2001, from 2.70% for the same period a year ago. This
decrease is directly attributable to the Company's increased level of
closings experienced in the first six months of fiscal year 2001,
which produced increased rates of capital turnover, thereby resulting
in lower capitalized interest costs. In addition, the Company
continuously evaluates the cost of capital charged by each of its'
lenders and carefully monitors and manages its' debt level relating
to those lenders.
Selling and marketing expenses decreased by $455,000 or 5.7%
during the six months ended April 30, 2001, as compared to the six
months ended April 30, 2000. Selling and marketing, as a percentage of
revenue, decreased to 4.4% from 6.1% for the comparable period in 2000.
This decrease, as a percentage of revenue, is attributable to the higher
closing volume, higher average sales prices, and lower incentives
required to achieve the desired sales absorptions.
General and administrative expenses decreased from 7.1% to 7.0%,
as a percentage of revenue, for the six months ended April 30, 2001 as
compared to the six months ended April 30, 2000. The decrease is
primarily attributable to efficiencies in operations and the higher
volume of closings achieved during the six months ended April 30, 2001.
Other operating costs for the six months ended April 30, 2001
were $28,000, as compared to $1,342,000 for the six months ended
April 30, 2000. The other operating costs of $1,342,000 during the six
months ended April 30, 2000, was due to the expensing of carrying costs
of one community in Fontana that had been held for future development.
The Company has begun developing the Fontana community and has begun
closing homes in the second quarter of fiscal 2001.
Net income increased 203.2% to $26.4 million during the six
months ended April 30, 2001, as compared to a net income of $8.7
million for the six months ended April 30, 2000. Net income, as a
percentage of revenue, increased to 13.7% as compared to 6.7% a year
ago. This increase was primarily attributable to the continued strong
demand for affordable housing throughout California, which in turn
resulted in increased closings and increased operating margins in the
Company's sub-markets.
Results of Operations
For the Three Months ended April 30, 2001 and April 30, 2000
Despite weather related delays in the commencement of
construction at the beginning of calendar year 2001, the Company
produced record revenues, closings and home sales for the three-month
period ended April 30, 2001, which were slightly greater than our
annual business plan projection. Housing revenues were $110.0 million,
an increase of $40.9 million, or 59.3%, from the three months ended
April 30, 2000. The closings of 506 homes was an increase of 149
closings, or 41.7%, over the three-month period ended April 30, 2000.
The record home sales realized was 614 homes, representing an increase
of 144 homes, or 30.6%, over the three-month period ended April 30, 2000.
The increase in these three indices was due to increased demand for
housing by first-time homebuyers that itself stemmed from the continued
strength of the affordable range of the California housing market and,
to a lesser degree, the reduction of mortgage rates during the first
part of the period. The average sales price of the homes closed in the
three months ended April 30, 2001 was $217,370, an increase of $23,965
or 12.4%, as compared to the three-month period ended April 30, 2000.
The increase in average sales price was due primarily to the Company's
ability to increase prices in its high demand communities. The Company
was successfully able to achieve this result by carefully weighing the
affordability of its homes against the desired absorption of those same
homes, while at the same time not seeking to raise prices merely to
achieve the highest possible revenues.
Gross profit from housing sales was $27.8 million for the three
months ended April 30, 2001, representing an increase of $13.6 million,
or 96.5%, from the three months ended April 30, 2000. During the same
three-month period, gross profit per home increased to $54,901, from
$39,594, representing a 38.7% increase over the comparable period in
2000. Gross profit margin for the three months ended April 30, 2001
rose to 25.3% versus 20.5% for the same period one year earlier. The
increase in gross profit and gross margin was due primarily to the
continued strength of the California affordable housing market and that
market's ability to absorb increased sales prices while the Company was
able to maintain construction costs at level amounts.
During the three months ended April 30, 2001, the Company sold 61
lots in Oceanside, California, 69 lots in Corona, California and 245
lots in Phoenix, Arizona, all of which, in the aggregate, resulted in
net gain of $1,830,000. There were no land sales in the comparable
three-month period of 2000.
The Company's interest amortized to cost of homes sold (as a
percentage of revenue) decreased to 1.6%, for the three months ended
April 30, 2001, from 2.5% for the same period a year ago. This
decrease is directly attributable to the Company's increased level of
closings experienced in the second quarter of fiscal year 2001, which
produced increased rates of capital turnover, thereby resulting in
lower capitalized interest costs. In addition, the Company
continuously evaluates the cost of capital charged by each of its'
lenders and carefully monitors and manages its' debt level relating to
those lenders.
Selling and marketing expenses increased $370,000 or 8.9% during
the three months ended April 30, 2001, as compared to the three months
ended April 30, 2000. Selling and marketing, as a percentage of
revenue, decreased to 4.1% from 6.0% for the comparable period in 2000.
This decrease, as a percentage of revenue, is attributable to the
higher closing volume, higher average sales prices, and lower
incentives required to achieve the desired sales absorptions.
General and administrative expenses decreased from 7.4% to 6.9%,
as a percentage of revenue, for the three months ended April 30, 2001
as compared to the three months ended April 30, 2000. The decrease is
primarily attributable to efficiencies in operations and the higher
volume of closings achieved during the three months ended April 30,
2001.
Other operating costs decreased $50,000 to $18,000 during the
three months ended April 30, 2001, as compared to the three months
ended April 30, 2000.
Net income increased 221.4% to $17.3 million during the three
months ended April 30, 2001, as compared to a net income of $5.4
million for the three months ended April 30, 2000. Net income, as a
percentage of revenue, increased to 15.7% as compared to 7.8% a year
ago. This increase was primarily attributable to the continued strong
demand for affordable housing throughout California, which in turn
resulted in increased closings and operating efficiencies, thereby
increasing operating margins.
Liquidity and Capital Resources
The residential real estate development business is inherently
capital intensive. Significant cash expenditures are typically needed
to acquire and develop land, construct homes and establish marketing
programs for lengthy periods of time in advance of revenue realization.
The Company generally finances its operations with cash flow from
operations, secured borrowings from commercial banks, financial
institutions and with unsecured borrowings in the capital markets.
The Company's financing needs depend primarily upon sales volume,
asset turnover and land acquisition. When liquidating inventory
through home closings, the Company generates cash. When building
inventory, the Company uses substantial amounts of cash obtained
through borrowings and cashflow from operations. The Company has had
adequate liquidity throughout its operating history, despite
recessionary periods, and historically the Company's liquidity needs
have been met through the use of cash provided by a combination of
closings and financing activities. In February 1994, the Company
issued $50 million of 11 3/8% Senior Notes due in 2000 through a public
debt offering. At certain times during the past few years the
Company repurchased portions of its outstanding 11 3/8% Senior Notes
on the open market. In December 2000, the Company paid off and
retired all remaining outstanding Senior Notes.
At April 30, 2001, the Company had commitments for $106.2 million
under several revolving credit facilities with commercial banks and
financial institutions, of which $78.7 million was outstanding. In
addition, at April 30, 2001, the Company had community specific
facilities capable of providing aggregate fundings of $3.2 million, of
which $3.2 million was outstanding. Borrowings under the credit
facilities are secured by liens on specific real property owned by the
Company, and carry varying levels of recourse against the Company. The
Company also utilizes unsecured borrowing lines from time-to-time to
meet its operational needs and objectives. The unsecured borrowing
lines have commitments of $4.0 million, all of which was outstanding
as of April 30, 2001. On April 30, 2001, the aggregate outstanding
principal balance under all of the Company's credit facilities was
$85.9 million and the recourse to the Company from those borrowings
was 40.5% of the total outstanding balance, or $34.8 million.
To date, the Company has been able to obtain acceptable land
acquisition and construction financing. Consistent with an industry
trend, certain lenders require increased amounts of cash invested in a
project by borrowers in connection with both new loans and the
extension of existing loans. The Company currently intends to
continue utilizing conventional bank financing for land acquisition
and construction financing, and use its own cash to fund that portion
of the total project costs and acquisition costs its Lenders require
be supplied (in form of equity) in order to obtain construction or
land acquisition financing.
There can be no assurance that the impact of market conditions
affecting the demand for homes or the availability of debt financing
will not adversely affect the Company's future needs for capital.
However, the Company expects that available capital resources, in the
form of retained earnings and debt financing, will be sufficient to
meet its normal operating requirements over the near term.
PART II. OTHER INFORMATION
Item 1. Legal Proceedings
-----------------
(a) None
Item 2. Changes in Securities
---------------------
(a) Paid in full on December 13, 2000
Item 3. Defaults upon Senior Securities
-------------------------------
(a) None
Item 4. Submission of Matters to a Vote of Security Holders
---------------------------------------------------
(a) None
Item 5. Other Information
-----------------
(a) None
Item 6. Exhibits and Reports on Form 8-K
--------------------------------
(a) There are no exhibits attached to this report.
(b) The Company did not file any reports on Form 8-K during
the period.
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 thereunto duly authorized.
THE FORECAST GROUP Registered Tradename", L.P.
----------------------------------------------
By: FORECAST "Registered Tradename" HOMES, INC.
-----------------------------------------------
A California Corporation
its General Partner
May 25, 2001 By: /s/ James P. Previti
- ------------ -------------------------
James P. Previti
President
By: /s/ Richard B. Munkvold
-------------------
Richard B. Munkvold
Senior Vice President -
Financial Operations
Principal Accounting Officer