HOV POSTS SECOND CONSECUTIVE PROFIT

Hovnanian’s headquarters, on Maple Avenue in Red Bank. (File photo. Click to enlarge)

After going one-for-22, Red Bank-based national homebuilderĀ Hovnanian Enterprises racked up a second consecutive net gain in its most recent fiscal quarter, the company announced Thursday.

In posting a profit of $34.7 million in the quarter ended July 31, compared with a prior-year loss of $50.9 million, Hovnanian “recorded double-digit revenue growth and a jump in contracts, the latest sign of improvement in the housing market,” the Wall Street Journal reports.

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