- Net income from continuing operations of $32M or $0.57 per share vs. $231.2M and $4.16 a year ago. The items are not comparable due to 2013's reversal of the DTA valuation allowance.
- Closings of 1.7K units up 2.5%; average closing price of $333K up 16%.
- Housing gross profit margin of 21.2% up 80 basis points.
- SG&A expense totaled 11.8% of homebuilding revenue vs. 12.4% a year ago.
- New orders of 2,228 units up 1.7%, up 9.4% excluding backlog acquired from LionsGate Homes. New orders dollar amount of $761.2M up 12.5%.
- Backlog of 3,870 units up 5.5%.
- RYL +0.5% premarket
- Previously: Ryland Group misses by $0.11, misses on revenue