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| Ryland reports results for 3Q 2009 The Ryland Group, Inc., announced results for its third quarter ended September 30, 2009. The Company reported a consolidated net loss of $52.5 million, or $1.20 per diluted share, compared to a loss of $65.7 million, or $1.54 per diluted share, for the same period in 2008. Housing gross profit margins averaged 10.8 percent, excluding inventory and other valuation adjustments, for the quarter ended September 30, 2009, compared to 7.8 percent for the quarter ended June 30, 2009, and 11.8 percent for the quarter ended September 30, 2008. Including inventory and other valuation adjustments, housing gross profit margins averaged negative 0.2 percent for the third quarter of 2009, compared to 0.8 percent for the same period in 2008. New orders in the third quarter of 2009 declined 1.1 percent to 1,270 units from 1,284 units in the third quarter of 2008, even though active communities declined 32.5 percent at the end of the current quarter to 197 communities from 292 communities at September 30, 2008. Closings totaled 1,323 units for the quarter ended September 30, 2009, reflecting a 34.4 percent decrease from the same period in the prior year. Consolidated revenues of $327.8 million for the quarter ended September 30, 2009, reflected a decrease of 39.7 percent from the quarter ended September 30, 2008. write your comments about the article :: © 2009 Construction News :: home page |