SCOTTSDALE, Ariz., Dec. 28, 2006 (PRIME NEWSWIRE) -- For the fourth consecutive year, Scottsdale, Ariz.-based Meritage Homes Corporation (NYSE:MTH) has been chosen to be part of the prestigious Platinum 400, an annual listing of America's Best Big Companies, to be published in the January 8 issue of Forbes magazine.
Meritage ranked 63rd on the composite list with five-year total return of 32.7%, and within the construction industry group, ranked sixth in total sales, third in net income and fourth in five-year total return.
"We are honored to once again be considered one of America's Best Big Companies by the editors of Forbes," said Steven J. Hilton, chairman and chief executive officer of Meritage Homes Corporation. "I believe this recognition reflects on the quality of our people, the homes we build and the successful execution of an operating strategy that aims to produce exceptional long-term returns for our shareholders."
To be considered for the Platinum 400 list, a company must have revenue of at least $1 billion and a stock price greater than $5 per share. Forbes' rigorous selection process is based on a company's rankings within its peer group on five-year and 12-month sales and earnings growth, total return to shareholders, consensus forecasts for long-term earnings growth and debt to capital ratios. Further consideration is given to a company's accounting and governance practices, earnings quality, and overall financial health to assess which are the best-managed companies in each peer group.
A leader in the homebuilding industry, Meritage Homes Corporation is ranked by Builder magazine as the 13th largest homebuilder in the U.S. and has been perennially included on the Fortune 1000 and Fortune's "Fastest Growing Companies in America" lists, and the S&P SmallCap 600 Index. It operates in six of the top 10 single-family housing markets in the country, and has reported 18 consecutive years of record revenue and net earnings. For more information about the Company, visit www.meritagehomes.com. Meritage is also a member of the Public Home Builders Council of America (www.phbca.org).
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