For the year ended December 31, 2012, the financial services segment reported pretax earnings of $13.1 million, compared to $5.7 million for the same period in 2011. This improvement was primarily attributable to increases in locked loan pipeline and origination volumes and to higher title income, 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.The Company’s net loss from discontinued operations totaled $2.0 million, or $0.04 per diluted share, for the year ended December 31, 2012, compared to a net loss of $20.9 million, or $0.47 per diluted share, for the same period in 2011.
Ryland Reports Results For The Fourth Quarter Of 2012
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