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Lennar’s fourth-quarter profits rise; revenues up 42% over last year



PORTLAND, OR , Dec. 18, 2013 (RISI) - 

Lennar Corporation reported fourth-quarter net earnings of $164.1 million, or $0.73 per diluted share, which includes a $94.0 million tax provision, compared to $124.3 million, or $0.56 per diluted share, which includes an $18.6 million tax benefit, in the fourth quarter of 2012.

Deliveries of new homes in the fourth quarter were 5,650 homes - up 27% from the same quarter in 2012. New orders increased 13% to 4,498 homes. The company's backlog of homes totaled 4,806, while revenues rose to $1.9 billion, up 42% from the same period a year ago.

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