Ryland Swings to Expected Loss

Ryland Group(RYL Quote), as expected, reported a large third-quarter loss as falling housing prices across the country forced the homebuilder to record hefty inventory impairment charges.

The Calabasas, Calif.-based builder reported a third-quarter loss of $54.7 million, or $1.30 a share, compared with profit of $87.9 million, or $1.97 a share a year earlier. Analysts expected a per-share loss of 88 cents, according to Thomson Financial.

The losses were primarily caused by $128.1 million of inventory valuation adjustments and write-offs related to land and housing communities under development. ...