87.4 F
San Fernando
Saturday, Sep 23, 2023

Ryland Beats Estimates

The Ryland Group Inc. reported earnings rose 31.5 percent to $108.7 million or $2.17 per diluted share for the fourth quarter ended Dec. 31 on revenues of $1.2 billion for the period. The financial report, released after the close of the stock market today, beat analysts expectations by nearly $0.10 per share. Ryland, a homebuilder based in Calabasas, said the company logged a record number of new orders and closings in the period. In the fourth quarter, new orders increased 27.1 percent to 3,217 and closings totaled 4,654, a 5.8 percent increase over the fourth quarter of 2003. The company said the quarter’s closings were the highest in its history. Ryland increased its guidance for 2005, projecting earnings per share would exceed $7.25. Shares in Ryland, which had risen to $61.36 per share in advance of the news, declined to $61.25 following the report.

Featured Articles

Related Articles