Deer Valley Posts Gain in 2011 Q1

The Tampa Bay Business Journal says Deer Valley’s (NYSE:DVLY) revenue for first quarter 2011 was $4.4 million, down from the same period last year of $6.1 million, a 29 percent decline.  However, net income was $134,761, one cent a share, a marked improvement over the $2.3 million loss last year with a share value of minus 13 cents.  In Q1 2010, the company took a $2 million impairment charge.  Headquartered in Tampa, Florida, Deer Valley designs, manufactures and finances factory-built homes for the southern U.S.  In its filing with the Securities and Exchange Commission (SEC), the company said the harsh winter conditions and expiration of the home buyers tax credit contributed to the drop in revenue.

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