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HARBOR Custom Development , Inc. Harbor Custom Development , Inc. Releases Second Quarter Financial Results - Reports Increases in Gross Revenues of 70 % and Net Income of 346 % over 2020 Gig Harbor , Washington , Aug. 16 , 2021 ( GLOBE NEWSWIRE ) -- Harbor Custom Development , Inc. ( " Harbor , " " Harbor Custom Homes® , " or the " Company " ) , ( NASDAQ : HCDI ; HCDIP ; HCDIW ) , an innovative and market leading real estate company involved in all aspects of the land development cycle , today announced that 2021 second quarter revenues were $ 14,132,400 with net income of $ 1,069,400 . Second quarter revenues were 70 % greater than the second quarter of 2020 and net income increased 346 % over the same period . Harbor CEO , Sterling Griffin stated , " We are excited to achieve our first profitable quarter as a public company and look forward to building on this success for the balance of 2021 and beyond . " " I'm thrilled with the momentum we gained over the past six months , which serves as further validation of our development approach . We're able to serve multiple segments of the home buying market while also providing developed lot inventory for national public builders , which provides the Company a steady and diverse stream of revenue . With a business strategy rooted in disciplined analysis , agility and highly efficient operations , we are well positioned for continued growth . I'm very proud of our employees ' diligent work that has led to significant progress across all segments of our business , " further stated Mr. Griffin . Harbor will host a conference call on Tuesday , August 17 , 2021 at 1:30 p.m. PT ( 4:30 p.m. ET ) to discuss the second quarter results and the Company's outlook . The public may access the conference call through a live audio webcast available at https://public.viavid.com/index.php?id=146167 . Those who would like to submit written questions in advance , please email : IR@harborcustomdev.com . The conference call will be available by telephone at 1-877-407-0789 ( for international callers , dial 1-201-689-8562 ) , and refer to " Harbor " or conference ID : 13722198. A replay of the conference call will be available for two weeks at 1-844-512-2921 ( for international callers , dial 1-412-317-6671 ) using the replay PIN : 13722198 . About Harbor Custom Development , Inc. Harbor Custom Development , Inc. is a real estate development company involved in all aspects of the land development cycle including land acquisition , entitlements , construction of project infrastructure , home building , marketing , sales , and management of various residential projects in Western Washington's Puget Sound region ; Sacramento , California ; and Austin , Texas . Harbor has active or recently sold - out residential communities in Gig Harbor , Bremerton , Silverdale , Bainbridge Island , Belfair , Allyn , Port Orchard , and Blaine in the state of Washington . In addition , Harbor has acquired land and will begin constructing homes in three new markets . In the Sacramento metro market , Harbor will be constructing homes in completed subdivisions in both Rocklin and Auburn , California . In the Austin metro market , Harbor has acquired developed lot inventory in Dripping Springs , Driftwood , and Horseshoe Bay , Texas . The Company has recently acquired property in Punta Gorda , Florida , and plans to begin construction of oceanfront condominiums there in 2022. Harbor Custom Development's business strategy is to acquire and develop land strategically , based on an understanding of population growth patterns , entitlement restrictions , infrastructure development , and geo - economic forces . Harbor focuses on real estate within target markets with convenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations . For more information on Harbor Custom Development , Inc. , please visit www.harborcustomdev.com . Forward - Looking Statements This press release contains forward - looking statements within the meaning of Section 27A of the Securities Act of 1933 , as amended , and Section 21E of the Securities Exchange Act of 1934 , as amended . These statements relate to , but are not limited to , statements regarding our positioning and potential for growth , as well as assumptions relating to the foregoing .