Please Follow Us On:

Follow Delta Gypsum on LinkedIn

Delta Gypsum on LinkedIn

Tuesday, March 29, 2011

Lennar surprises with $27.4M profit

Lennar Corp., shocked Wall Street Tuesday when the company reported net income when most analysts had predicted a net loss for the three months ended Feb. 28.

A Bloomberg report states that the Miami, Fla.-based company was able to post a profit for the quarter after settling an expensive lawsuit and adding income from its distressed-investing unit.

Lennar (NYSE:LEN) posted net income of $27.4 million for the quarter, or 14 cents a share. Analysts had predicted a loss of 7 cents a share, Bloomberg reports. The company has a loss of $6.5 million, or 4 cents a share, a year earlier.

No comments:

Post a Comment