Calabasas, CA, January 25, 2006--Homebuilder Ryland Group Inc., reported fourth-quarter earnings that rose 49% from the year-ago period on higher home sales.
Net income for the quarter was $162 million, or $3.32 a share, compared with $108.7 million, or $2.17 a share, the previous year.
The company, which in December approved a stock buyback authorization of up to an additional $250 million in shares, repurchased 660,000 of its shares in the fourth quarter.
Building companies have posted generally solid earnings growth so far this quarterly reporting season, but some analysts are worried about the outlook for the sector with housing markets in certain regions exhibiting signs of weakness. Some homebuilders have reported slowing orders, which could earnings in 2006 and 2007.
