Meritage Homes is poised for profitability

To survive the housing crash, homebuilders had to slash prices, cut costs and find ways to compete with foreclosures. Scottsdale-based Meritage Homes is an industry survivor. The company, metro Phoenix's only publicly traded homebuilder, is on track to make a profit this year, CEO Steve Hilton says. The builder is selling more homes than a year ago, experiencing fewer cancellations from buyers, receiving a hefty tax refund and completed a large financing deal. Late Tuesday, Meritage Homes closed on a $200 million private-placement offering. The deal allows Meritage to pay off some of its senior notes that are due starting in 2014. Its new senior notes won't mature until 2020.

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