This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Ryland Reports Results For The Fourth Quarter Of 2012

Housing gross profit margin was 20.0 percent for the quarter ended December 31, 2012, compared to 18.1 percent for the quarter ended December 31, 2011. This improvement in housing gross profit margin was primarily attributable to a decline in direct construction and land costs; higher leverage of direct overhead expense due to an increase in the number of homes delivered; lower inventory and other valuation adjustments and write-offs; and reduced sales incentives and price concessions. For the fourth quarter of 2012, sales incentives and price concessions totaled 8.7 percent, compared to 10.7 percent for the same period in 2011.

Selling, general and administrative expense, including corporate, totaled 13.4 percent of homebuilding revenues for the fourth quarter of 2012, compared to 16.4 percent for the fourth quarter of 2011. This decrease in the selling, general and administrative expense ratio was primarily attributable to higher leverage resulting from increased revenues and to the impact of cost-saving initiatives, partially offset by higher compensation expense primarily due to the impact of fluctuations in the Company’s stock price.

The homebuilding segments recorded $5.1 million of interest expense during the fourth quarter of 2012, compared to $3.9 million during the fourth quarter of 2011. This increase in interest expense from the fourth quarter of 2011 was primarily due to interest incurred on additional senior notes issued in 2012, partially offset by the capitalization of a greater amount of interest incurred during the fourth quarter of 2012, which resulted from a higher level of inventory under development.

During the fourth quarter of 2012, the Company used $129.8 million of cash for operating activities, provided $117.6 million of cash from investing activities and used $56.4 million of cash for financing activities.

For the quarter ended December 31, 2012, the financial services segment reported pretax earnings of $6.2 million, compared to $437,000 for the same period in 2011. This improvement was primarily attributable to increases in locked loan pipeline and origination volumes, higher title income and lower indemnification expense, partially offset by a rise in personnel and legal expenses and by interest related to the financial services credit facility that was entered into during December 2011.

3 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs