Ryland posts loss in homebuilding

April 30, 1993

Columbia-based Ryland Group Inc. reported yesterday improved first-quarter earnings for its financial services unit, which helped offset a $5.1 million first-quarter pre-tax loss for the company's homebuilding operations.

Roger W. Schipke, Ryland's chief executive, said the loss in homebuilding "reflects lower gross profit margins resulting from competitive price concessions in the latter part of 1992 and increased lumber prices."

"Although our 1993 pricing is improving, we won't see this in our financial results until later in the year," Mr. Schipke predicted.

Timothy L. Jones, an analyst at Southeast Research Partners in Boca Raton, Fla., explained that "Ryland was hurt by its California operations," adding, "Southern California has been a disaster for a lot of homebuilders."

Ryland Group Inc.

hTC (

Ticker Yesterday's Symbol Cls.Chg.

RYL 19 3/8 +

Period ended

March 31 1st qtr. Year ago Chg.

Revenue $297,398 $290,635 +2.3%

Net Income $6,553 $2,614 +150.7

Primary EPS $0.38 $0.15 +153.3%

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