 | | The earnings releases, conference calls and other financial news and informational items posted on this web site are presented for historical purposes only. Each such item was released or recorded as of the date listed, which in some cases occurred substantially in the past, and reflected management views as of the date of the item. Certain matters discussed in these items, including any statements that are predictive in nature or concern future market and economic conditions, business and prospects, our future financial and operational performance, or our future actions and their expected results are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and projections about future events and are not guarantees of future performance. We do not have a specific policy or intent of updating or revising forward-looking statements. Actual events and results may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors. The most important risk factors that could cause our actual performance and future events and actions to differ materially from such forward-looking statements include, but are not limited to: general economic and business conditions; adverse market conditions that could result in additional inventory impairments, abandonment charges or goodwill impairments; material prices and availability; labor costs and availability; changes in interest rates; our debt level; declines in consumer confidence; increases in competition; weather conditions, significant natural disasters and other environmental factors; government regulations; the availability and cost of land in desirable areas; government investigations and shareholder lawsuits regarding our past stock option grant practices and the restatement of certain of our financial statements; other legal or regulatory proceedings or claims; conditions in the capital, credit (including consumer mortgage lending standards) and homebuilding markets; the ability and/or willingness of participants in our unconsolidated joint ventures to fulfill their obligations; our ability to access our available capacity under our unsecured revolving credit facility; and other events outside of our control.
We have restated our consolidated financial statements to reflect additional
stock-based compensation expense and related income tax effects relating
to annual stock option awards granted since 1998. Our Annual Report on Form
10-K for the year ended November 30, 2006 (the “2006 Form 10-K”) filed with
the Securities and Exchange Commission reflects the restatement of our consolidated
financial position as of November 30, 2005 and our consolidated results
of operations and cash flows for the years ended November 30, 2005 and 2004.
The 2006 Form 10-K also includes under Item 6. Selected Financial Data restated
financial information as of and for the years ended November 30, 2003 and
2002. Any of our previous public filings, press releases or other communications
should not be relied upon to the extent they relate to information restated
in the 2006 Form 10-K.
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