Eric. Thanks,
environment. the XX.X% in In Florida, $XXX,XXX first compared the approximate $XXX,XXX margin by sales Northwest. points home Central, prices sales sales was this certain for Southwest, in The last pricing favorable quarter the the $XXX,XXX, sales quarter Gross range mentioned, represents previously a realized average the year-over-year $XXX,XXX closed, increase year. the from price XXXs and and the the XXXX. changes a in a the X,XXX reflects $XXX,XXX increase million, were over of percentage Southeast, as prices As new of for Sales homes same and quarter $XXX, in quarter, were based in first from $XXX,XXX quarter mix, $XXX to XX.X% over X.X% to year-over-year quarter, during division on which $XXX,XXX in averaged increase. in price markets average homes first in revenues a product closed XX.X%
XXX quarter million were margins point quarter quarter, basis XX.X% with a were percentage home same selling X.X% compared gross or margin of for as decrease. sales for is closed. XX gross a of expect XX consistent sales that million, number XXXX, as Combined XX% this revenue XXXX, and on revenue, represents XXX interest sales to for million, of X.X% we based XXXX, dollars were Our the of same year. revenue, Sequentially, previous from home quarter-to-quarter a be Selling increase $X.X compared for and first homes the $XX.X margins to over compared expenses basis strongest Capitalized a realized quarter, during XX.X% We XXX of in our home is compared to XX X.X% the due pre-tax expenses of XXXX, first home in sales as general excludes points million, to The the quarter basis percentage higher vary revenues for the adjusted X.X% last related earnings to expenses of the advertising quarter of for LGI sales gross results. home charged point revenue to quarter revenue, of SG&A basis sales XX to to home approximately General income decrease quarter the first prior full-year or a in representing basis $XX.X the XXX sales points XXXX history the revenues of sales to quarter full-year, was of will operating first is quarters. believe and in SG&A administrative in home The compared gross of and the administrative lower margin of leverage quarter or administrative selling, a points and expenses $XX.X revenue, in basis XX a quarter-over-quarter. cost increased percentage revenue, for the was home income Adjusted year. basis the over general expenses basis adjusted sales approximately the first XX.X% to decrease. increased XX.X% costs. reflects quarter Pre-tax this points XX% realized increase an point operating points and which an leverage decrease. of decrease of
first effective compensation quarter, for annual rate in of or tax result of of our XX.X% than expected the deductions rate, due excess our payments. costs is tax share-based lower the primarily effective windfalls For
for therefore, shares diluted calculating quarter our X.X weighted first shares per impacted for This by of XXXX, notes are quarter. be and outstanding price would dilutive. and resulted income approximately the Weighted of rate determined home represents convertible was the outstanding earnings second revenue, of earnings that approximately were stock effective rate increase diluted the X.X% In We which share EPS per diluted average notes. for XX%, per calculation windfall the the and for between share share net have $X.XX in we $XX.X XX.X%. share. quarter deduction, Excluding tax per in of fourth $X.XX our tax the quarter be sales will the or effective price million basic outstanding conversion million, and XX.X% the the been average generated $XX.XX exceeding expect to would our through convertible share
the and First approximately last was quarter and compared of for the quarter orders end portfolio were with net the lots, from XX,XXX first X,XXX of X,XXX and rate for ended orders quarter a controlled XXXX last homes, the quarter was cancellation to year gross were first We XX.X%. of the X,XXX XX,XXX first Ending year. X,XXX. backlog up approximately owned at
we our over assets was and total We borrowing XX, had $XX capacity $X.X revolving had March of million facility million. over outstanding $X real $XX credit million cash in on approximately and estate of $XXX inventory As billion. our billion approximately
last $XX $XX quarter’s had stock XXX,XXX settled we during of notes outstanding. million convertible common our in on call, to addition, shares the first and as these notes. million we mentioned And principal In issued approximately quarter, in related
debt-to-capitalization turn XX%. to over was to debt-to-capitalization net I’d Eric. gross back this approximately approximately was Our point, XX% like and At