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Ryland Earnings Increase More Than 40 Percent

Ryland Group Inc., homebuilder and mortgage financing company in Calabasas rose to earnings of $90 million, or $ 1.86 per share on revenues of $1.07 billion for the first quarter of 2006 due to a high number of home closings and average closing prices. The earnings increased 44 percent from $62.7 million, or $1.25 per share on revenues of $874 million for the same period in 2005. Home closings reached 3,554, a 13.3 percent increase, and averaged $295,000 per home for the first quarter of 2006, up 8.9 percent from $271,000 for the same period in 2005.

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