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Ryland Says Earnings Could Miss Expectations

IN BRIEF / REAL ESTATE

March 08, 2005|From Associated Press

Ryland Group Inc. said first-quarter earnings could be below Wall Street expectations because of delayed closings caused by bad weather in some markets.

The company said any delays should be made up later in the year, and left its forecast for all of 2005 unchanged at $7.25 a share.

The home builder said earnings per share for the first quarter should exceed the $1.03 a share earned a year earlier by at least 15%. Analysts surveyed by Thomson First Call were expecting the company to earn $1.30 a share, a 26% increase.

Ryland shares fell $1.31 to $70.50 in after-hours trading after rising $1.06 to $71.81 on the NYSE.

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