This Day On The Street
Continue to site
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

Ryland Reports Results For The Fourth Quarter Of 2012

The Company’s net loss from discontinued operations totaled $374,000, or $0.01 per diluted share, for the quarter ended December 31, 2012, compared to a net loss of $451,000, or $0.01 per diluted share, for the same period in 2011.

ANNUAL RESULTS FOR 2012

For the year ended December 31, 2012, the Company reported net income from continuing operations of $42.4 million, or $0.88 per diluted share, compared to a net loss of $29.9 million, or $0.67 per diluted share, for the same period in 2011. Pretax charges related to early retirement of debt totaled $9.1 million and $1.6 million for the years ended December 31, 2012 and 2011, respectively. The Company had pretax charges related to inventory and other valuation adjustments and write-offs that totaled $6.3 million and $17.3 million for the years ended December 31, 2012 and 2011, respectively.

The homebuilding segments reported pretax earnings of $63.9 million for the year ended December 31, 2012, compared to a pretax loss of $16.8 million for the same period in 2011. This increase was primarily due to a rise in closing volume; higher housing gross profit margin, including lower inventory and other valuation adjustments and write-offs; a decline in interest expense; and a reduced selling, general and administrative expense ratio.

Homebuilding revenues increased 47.3 percent to $1.3 billion for the year ended December 31, 2012, compared to $862.6 million for the same period in 2011. This rise in homebuilding revenues was primarily attributable to a 40.9 percent increase in closings that totaled 4,809 units for the year ended December 31, 2012, compared to 3,413 units for the same period in 2011, as well as to a 4.8 percent increase in average closing price, which was $263,000 for the year ended December 31, 2012, versus $251,000 for the same period in 2011. Homebuilding revenues for the year ended December 31, 2012, included $7.7 million from land sales, which resulted in pretax earnings of $2.5 million, compared to homebuilding revenues for the same period in 2011 that included $5.4 million from land sales, which resulted in pretax earnings of $426,000.

4 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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG

Markets

DOW 17,683.58 -46.53 -0.26%
S&P 500 2,068.76 -8.02 -0.39%
NASDAQ 4,991.94 -17.2740 -0.34%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs