TACOMA, Wash., Nov. 14, 2022 (GLOBE NEWSWIRE) — Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI; HCDIP; HCDIW; HCDIZ), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced its financial results for the third quarter and nine months ended September 30, 2022.
Third Quarter 2022 Financial Highlights Compared to Third Quarter 2021
Sales of $11.7 million compared to $18.0 millionGross profit of $0.4 million compared to $7.1 millionGross margin of 3.7% compared to 39.7%Net loss of $(3.4) million compared to net income of $3.7 millionLoss per share of $(0.37) compared to basic earnings per share of $0.21EBITDA loss of $(3.2) million compared to EBITDA of $4.3 millionAdjusted EBITDA loss of $(3.1) million compared to Adjusted EBITDA of $4.5 million
Nine Months Ended September 30, 2022 Financial Highlights Compared to Nine Mo
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