Ryland Group, Inc. (RYL) reported profit in first quarter net income to $22.1 million or $0.48 per share, compared to a loss $5.1 million or $0.11 per share for the year-ago quarter, reflecting impressive home building revenues from last year.
Income from continuing operations for the latest quarter was $22.0 million, compared with a loss from continuing operations of $3.0 million in the prior year quarter.
Total revenue for the quarter rose to $374.7 million from $215.9 million a year ago. Home building revenues for the quarter rose 73.5 percent to $363.5 million from $209.5 million in the prior year.
Analysts polled by Thomson Reuters expected the company to earn $0.28 per share on revenue of $357.69 million for the current quarter.
New orders increased 54.4% to 2,051 units in the first quarter from 1,328 units in the same year-ago quarter.
For the quarter ended March 31, 2013, the Company reported net income from continuing operations of $22.0 million, or $0.43 per diluted share, compared to a net loss of $3.0 million, or $0.07 per diluted share, for the same period in 2012.
For comments and feedback: editorial@rttnews.com