Builder Lennar Reports Higher Profits, Revenues

Miami, FL, June 27, 2012 -- Homebuilder Lennar Corp. reported a second quarter profit of $452.7 million, or $2.06 cents a share, up from year-earlier earnings of $13.8 million, or seven cents a share.

Chief Executive Stuart Miller said it looks as though housing has bottomed and has begun to recover.

Revenue climbed 22% to $930.2 million as revenue from homebuilding also rose 22% to $808.1 million.