FORKED RIVER, NJ / ACCESSWIRE / May 5, 2020 / Dream Homes & Development Corporation (OTC PINK:DREM), a licensed new home builder and general contractor in New Jersey, today announced a year over year quarterly increase of 59.90%.
Gross revenue for the quarter ended March 31, 2020 was $ 1,262,255, compared to $ 789,420 for the 3 months ended March 31, 2019. This increase of $ 472,835 (59.90%) is a result of working through the backlog from the sales increases of 2019. The 2019 sales increases were due to the fruition of marketing and acquisition efforts implemented since early 2019.
CEO and Chairman Vince Simonelli had the following comments. "Despite an extremely difficult work climate due to the Covid-19 virus, we've kept our field crews working and moved our numerous projects forward. We've adapted our entire internal operations and are experiencing delays at the state and local level with supplies and access to government offices. Though this unprecedented event has created difficult logistical as well as increased expenses, including delays in our modular division due to the closing of manufacturing facilities in Pennsylvania, we have continued to operate. This has resulted in a very significant year to year increase. During early and middle 2019, we put many marketing ideas in play which drastically increased our sales backlog. We're now realizing the effects of these sales and look forward to this trend continuing throughout 2020. Going forward, we're also anticipating an additional surge in sales when the restrictions are eased and eventually lifted."
Simonelli went on to say, "An emerging trend throughout 2020 & 2021 will be an exodus from the more densely populated northern NJ areas, as well as throughout the 5 New York boroughs. Many people who have been planning on selling their homes and retiring have decided not to wait any longer to relocate based on the events of the last few months."
"Finally, we're looking forward to closing on and starting the 70 unit townhome project we have under contract in Berkeley Township, NJ. We'll be bringing an entry level townhome to market at an affordable price, in an area with a severe housing shortage so we anticipate brisk sales. We plan to start site improvements and the first building in the late summer or early fall of this year."
View CEO and Chairman Vince Simonelli's exclusive video interview on Stock Investor Daily. In the interview, Simonelli discusses DREM revenues, existing and future projects of the company, the company backlog of business and much more. The interview can be accessed here: https://www.youtube.com/watch?v=kPFzDMi6j-M
About Dream Homes & Development Corp.
Dream Homes & Development Corp. (OTC: DREM) is a full-service construction company based in Forked River, New Jersey equipped to complete all aspects of a building project including design, architectural, engineering, and construction. As licensed new home builders and general contractors, Dream Homes is actively building, raising, renovating and reconstructing homes up and down the New Jersey shore area.
Please visit our website at www.dreamhomesltd.com and blog at http://blog.dreamhomesltd.com for more information.
Please email [email protected] to be alerted in the future when Dream Homes (DREM) announces news. Twitter at https://twitter.com/foxbuilder.
Forward-Looking Statements:
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks are detailed in the Company's respective filings with the Securities and Exchange Commission at www.sec.gov.
Company Contacts:
Dream Homes & Development Corp.
Vincent Simonelli, President & CEO
Office: (609) 693-8881
Email: [email protected]
SOURCE: Dream Homes & Development Corporation