LGIH
#Yes, I think we're comfortable with our infrastructure.
For sure we've had a lot of growth.
We added a lot of new employees.
We have new Vice Presidents and a lot new managers and a lot new sales people and we've experienced a lot of growth outside of Texas.
And we've definitely experienced growing things and not all communities are operating as efficiently as we would like, but that is built into our guidance and that's expected and we believe we have the processes and systems in place to mitigate those risks.
And we have a very consistent structure in place when we open up a new community.
So, some markets can doing better.
Some markets are doing better than others, but overall we feel really good about the business and our guidance for this year.
You're welcome.
Yes, I would say to those three, not so much on the weather fronts.
And also capital planning comes into that equation as well, <UNK>, because when we put new sections on the ground, we are planning for a certain absorption pace.
And we could have probably done a better job of forecasting in some communities increased absorptions and gave ourselves a little bit more room, because when we have better than expected closings in a certain community, there is a finite number of closings that we can have before that next section is going to be ready.
So, capital efficiencies and allocation comes into that as well.
I think from a gross margin standpoint, it's going to be lower in the first quarter because the volume is not going to be there, but for the rest of the year, that 26.5% range, 26.5% to 28.5% on an adjusted basis, we think that's pretty consistent.
That's where we've been over the last eight quarters and I think it's going to remain consistent in the second, third and fourth quarter.
All right.
Thanks <UNK>.
That is a great question <UNK>.
I would say we didn't have that many closings per community basis anywhere.
So, I would say, they were down in every region, but I think Texas has the biggest impact because Texas is our leading market, leading region on a closing basis.
So not having some inventory in our top performing communities in Texas I think had the greatest impact on January and February.
We will consider it.
Sure, <UNK>.
The average sales price we actually look at it as in their more expensive communities where average sales price increases.
We actually forecast a little slower absorption pace per community although revenues might not necessarily be slower.
So, if you look at our 4700 number in our community count guidance, we are actually forecasting slightly slower community count or community sales per community, and that's one of the reasons because of the continued raising of average sales price, especially in the new markets.
Yeah, December sales were actually up year-over-year, but I would agree with that, <UNK>.
It definitely falls into the bucket of items that impacted when Christmas Eve and Christmas Day are on Saturday and Sunday, that's not ideal for us.
You're correct, the majority of our sales do come on weekends.
So, I would contribute that as a factor, but not as much as inventory.
Thank you.
Okay.
Thanks, everyone for participating on today's call and for your continued interest in LGI Homes.
Everybody have a great day.
