IRVINE, CA—Orange County home builder TRI Pointe Homes reported that new home orders were up 37% and 17% adjusted for Q4, and that its net income of $41.4 million, in a year end report released this week.

On July 7, 2014, TRI Pointe consummated the previously announced merger with Weyerhaeuser Real Estate Company (“WRECO”). Before the merger, WRECO was an indirect wholly-owned subsidiary of Weyerhaeuser Company engaged in homebuilding and related activities through five operating subsidiaries. The merger was accounted for as a “reverse acquisition” of TRI Pointe by WRECO. As a result, legacy TRI Pointe's financial results are only included in the combined company's financial statements from the closing date forward and are not reflected in the combined company's historical financial statements, except for legacy TRI Pointe's common stock. Accordingly, legacy TRI Pointe's financial results are not included in the Generally Accepted Accounting Principles (“GAAP”) results for any periods prior to the closing.

“We are pleased with the progress we made in the fourth quarter and full year 2014”, commented Douglas Bauer, TRI Pointe's chief executive officer. “Over the last year, TRI Pointe has transformed itself from a regional builder with limited size and scope to a more diversified company with a portfolio of six homebuilding brands building in ten of the best markets in the country. The integration of the WRECO homebuilders is complete, and now we are extremely excited about building a market leading culture that will be recognized for market share and for being a top performer.”