Ryland Group Inc. (RYL) reported fourth-quarter net income of $39.02 million or $0.88 per share compared to a net loss of $59.91 million or $1.40 per share last year.
Excluding inventory and other valuation adjustments and write-offs, as well as the income tax benefit, the company's net earnings would have been $4.7 million or $0.11 per share for the quarter.
On average, 15 analysts polled by Thomson Reuters expected the company to report a loss of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues decreased to $418.38 million from $528.23 million a year ago. Analysts expected revenue of $391.34 million for the quarter.
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