setting record year XXXX. Revenues homes year we than was record and Good today. you setting the and better billion you, new for reached all delivered. successful revenues, afternoon record contracts Phil. XX% for XXXX thank as the and homes, achieved M/I for $X.XX us Thank strong everyone setting joining
a XXXX new XXXX, fourth XX% XXXX. quarter for resulted was backlog combination record And with contracts, equal year strong quarter homes than X,XXX year's XX% the sold for value than over XXXX. we Homes the fourth XXXX X,XXX, end better of X,XXX, earnings higher a quarter. of total during $XXX this of contracts delivered XX% increase which a a over New fourth XX% number and year-end increase million year and higher $XXX is closing sales sales last XX% backlogs ago This of of million. XXX than homes, in year
the in XX%, to compared we for Net in pre-tax puts to XXXX, strong pleased Our over a solid non-core excluding pre-tax as excluding by which our XX% is in operating that year operating year particularly us earned items $XXX the XXXX we additional begin the XXXX. equal improved income X.X% to backlog income X% as the were gain we margin to improved leverage, XXXX. $XXX we position the non-operating for million, items million
terms In improved our of at coming in XX.X% margin, XX.X% slightly margins full compared XXXX. to year gross in
For Financial, a ago. M/I and a the for margins gross in had strong factors quarter, some than XXXX, time. our records, in financial performance other and that of basis of quarter-to-quarter, XX.X%, were bit XXX lower choppiness to the similar experienced is always Clearly, mix we fourth due from there number points first XXXX. a in of setting billion mortgages services and the originating fourth quarter $X over including business closing of very year
as of be in sales improving communities rate will year up expect X%. also our securing homes and entitle the profitable new our which President people a year with business, our XXXX selling the in We We communities were XX% mortgage a were active Operation on locations Mortgage by presenting communities customers. continue communities mentioned here few during approximately in earlier and XXXX for on in up building In I intensely our XXXX, level. XXX very active managed Klutch, the us focused where We've our always ended average successful by to to XXXX, communities. Sales absorption premier benefit throughout Derek from well we want communities XX opened the XX% further serve helps minutes. over increase and while were live. better
Our we today this strong Smart of our our Tampa communities Series sales which Series, more Included growth our that homes past our the our within over years lines is launched indication and XXX number active an the first of succeeding in open communities, late Smart and community Series over have Smart in affordable featuring area. in we active XX call communities. XXXX new
Smart XX half have end, across year over divisions. spread by XX We home expect Series building communities over open to our of
about are XX,XXX discuss strong lots Companywide, an under and of with land in we few this excited will over a XX% is This very over position We minutes. Phil control. XXXX that. increase have a
XX% We approximately by expect in our to increase the land over spent XXXX levels XXXX. spent
our San about with before beginning Tampa, the X,XXX four Southern year. the This is for of Now I’d companywide in quarter XXX first the is a fourth and three to represents XX% our and finish, of which a region, region Southern and closings. the had Antonio. ago increase specific and bit Boston Dallas, our Houston, Florida provide markets I year XX% markets our aggregate Texas The deliveries for Orlando during more comprised and markets detail Sarasota; like
Southern increased Southern markets XX% of the value in in in the at was our sales quarter sales our ago. up the to last XXXX compared of XX% in the The year for to improved contrast lot compared region dollar Southern region region with XX% position of backlog New the and seven year. end all increased controlled our
of XX We year increase an a which the XX% December end from as of communities of is of the Southern region last earlier. in have year,
year versus So active our XX four had divisions, Texas we communities at year-over-year. XX end
noticeable particular improving make markets continue important of the for continue scale This markets solid. to very Texas Florida is we and better look progress four with of towards We three our markets. Each both in is all market in our as goal achieving our Tampa genuine well performing to to strong particularly demand The for returns. companywide is our us. in us Orlando
consists Indianapolis, than region Minneapolis, of quarter year. Ohio; region, Columbus, Minnesota. Illinois; Indiana; for which Midwest is Next the companywide the had and This In fourth was XX% Midwest the ago year Ohio; better X,XXX Cincinnati, in closings. we Chicago, XX% the and deliveries XXX the and of
New up Midwest XX% were contracts the in the quarter. for
our results prior perform continue We are pleased the new sales at markets all where to increasing a Midwest from high with very and in Minneapolis division our year of frankly level. significantly
backlog year the the the the Midwest ago. in up in Midwest, our the XX% dollar to of value from start in the a active year increased which ended sales with year Our XX compared controlled from and up earlier. was year We position in XX% a Midwest XX% communities is lot
us experience remains a demand Finally, been modest and years, of Mid-Atlantic North sales and Raleigh year space for to our strong of community and closings, markets DC. and Charlotte region due well fall both both overall and but markets at a part did up as sales openings our greater number Raleigh, market markets in Carolina these Charlotte consisted in in of healthy. the in in this level of have Charlotte we our Raleigh which for as activity
XX% year absorption reduced the targeted to pace will in the XX all result with communities DC company and DC. ended in the Mid-tlantic the challenging. the with sold from quarter communities the in communities in have our continue challenging did of our the remains it of Raleigh of line as We've led compared investment levels. to out to reduced get we've and number fourth region. communities be the greater DC we in year We these to markets we is DC. factors below XXXX. improve We also beginning new be down of number Charlotte in year This work continues ago, there and Carolina on and active to The Though active
were region and contracts with down New year. quarter value XX% sales start for the the compared our of in XXXX down the also X% Mid-Atlantic was backlog from the
of at control to of XX% the of end -- los year, increased they've year. of the last total Mid-Atlantic compared region the terms XX% In increased
let to include me by call over the saying. turning Before just Phil,
our First, shape been the with best company ever in is in.
have most buyers broad product to excellent and are We level quality conditions of balance healthy applying land condition, strong of Housing high a and good a a sheet service. and segment and customer very well good as with as of in all With to And continued across Phil. our markets. we're solid demand continued that, improvement XXXX growth that, I'll profitability. with call well for over positioned the turn
