Ryland Group Reports Loss as Fewer Homes Sold

Calabasas, CA, Jan. 27, 2011 -- The Ryland Group Inc. reported a fourth quarter loss of $19.1 million, or $0.43 a share, compared to net income of $39 million, or $0.88 last year.

Revenue sank 45.7 percent for the homebuilder to $227.1 million from $418.3 million, mostly due to lower completed sales.

Ryland said its new home orders declined to 776, down from 969 in the prior-year period. Completed sales sank to 909 from 1,666 a year earlier.

The average closing price climbed during the quarter to $243,000 from $237,000.

Like other builders, Ryland took steps to boost the number of open communities last year.

As of Dec. 31, the builder had 207 open communities, up from 182 a year earlier.

For the year, Ryland posted a loss of $85.1 million, or $1.93 a share, compared with a loss of $162.5 million, or $3.74 a share, in 2009. Revenue slipped to $1.06 billion from $1.28 billion.