William Lyon Homes reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company's operating revenue was $325,653,000 compared to $254,695,000 a year ago. Operating income was $21,183,000 compared to $19,347,000 a year ago. Income before provision for income taxes was $22,605,000 compared to $20,504,000 a year ago. Net income was $15,086,000 compared to $13,250,000 a year ago. Net income available to common stockholders was $14,561,000 compared to $12,277,000 a year ago. Diluted income per common share was $0.38 compared to $0.32 a year ago. Net cash used in operating activities was $15,369,000 compared to $43,844,000 a year ago. Adjusted EBITDA was $48,458,000 compared to $38,756,000 a year ago.

For the six months, the company's operating revenue was $590,078,000 compared to $451,863,000 a year ago. Operating income was $34,463,000 compared to $29,494,000 a year ago. Income before provision for income taxes was $37,591,000 compared to $31,680,000 a year ago. Net income was $25,027,000 compared to $20,856,000 a year ago. Net income available to common stockholders was $23,575,000 compared to $18,959,000 a year ago. Diluted income per common share was $0.62 compared to $0.50 a year ago. Net cash used in operating activities was $74,905,000 compared to $104,940,000 a year ago. Adjusted EBITDA was $81,990,000 compared to $61,778,000 a year ago. Total debt was $1,167,170,000 compared to $1,105,776,000 as at December 31, 2015.

The company provided earnings guidance for the full year of 2016. The company continues to believe that its effective tax rate for the full year will be approximately 34% to 35%. The company expects 2016 results to include deliveries of 2,700 to 2,850 units, home sales revenue of $1,350,000,000 to $1,475,000,000 and pretax net income before minority interest of $105 million to $120 million.