Palm Harbor Modular Homes
Palm Harbor modular homes can be found in 32 states all over the US. The company is headquartered in Addison, Texas and initially began as a small enterprise. The company was named “Home Builder of the Year” for the year 2006 by the Manufactured Housing Institute. It also bagged the National Industry Award for “Best Production Multi-section Manufactured Home under 1,800 sq. ft.,” “Best Production Single-section Manufactured Home under 1,800 sq. ft.,” and “Best Concept Modular Home over 1,800 sq. ft.”.
Besides this there was special recognition for Palm Harbor modular homes from the Ohio Manufactured Housing Association in 2005. Palm Harbor Homes also has numerous other distinctions including national industry awards for excellence in design, housing quality award, and the status of Energy Star Homes Partner. The company has more than 4,500 associates all over the nation. These personnel are always encouraged to get involved in their communities. This includes sponsorship of various events, and raising money for special causes and needs. The company partners with local charitable institutions to find the people in dire need of housing. They then take the initiative in putting a roof over their heads.
In order to maintain the highest quality standards in Palm Harbor modular homes and other homes, the company started the Quality Improvement Process (QIP) in 1986. This is a management system to monitor and rectify problems and inefficiencies. It aims at making the experience a good one for the customer right from the word ‘go’. Sales associates and other personnel undergo training on a regular basis to ensure that they keep up-to-date on QIP techniques and advances. There are special recognition awards for associates who excel at their QIP training and performance at work.
Net sales for Palm Harbor Homes in March 2006, were at $710 million - a $100 million more than the previous year. The operating income was $24.5 million compared with an operating loss of $353,000 in 2005. The company has vertically integrated operations – manufacturing, retailing, financing, and insuring. A majority of its homes are customized with owner-selected features. The company also has certain subsidiaries – Standard Casualty is its insurance subsidiary, Nationwide Custom Homes is its modular subsidiary, and CountryPlace Mortgage, its finance subsidiary. The company’s stock price has seen a 52-week high of $22.87 and a 52-week low of $13.33. The last time they announced a stock split was in 1998.
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