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Ryland 1Q Loss Widens As Revenue Plunges Amid Fewer Closings

DOW JONES NEWSWIRES Ryland Group Inc.'s (RYL) first-quarter loss widened as revenue fell more than expected amid a steep drop in closings. The builder has reported just a single profitable quarter since the fourth quarter of 2006. It has seen revenue decline of late from year-earlier periods boosted by homebuyers' rush to take advantage of a government tax credit. The U.S. housing market recovery is proving to be a prolonged, painful process. Builders face price competition from deeply discounted foreclosed properties, and consumers are jittery about falling values and having a hard time qualifying for mortgages. Earlier this month, KB Home (KBH) and NVR Inc. (NVR) reported their bottom lines deteriorated in the latest quarter. Ryland posted a loss of $19.5 million, or 44 cents a share, compared with a year-earlier loss of $14.3 million, or 33 cents a share. The latest period included $9.9 million, or 22 cents a share, in pretax charges related to inventory and other valuation adjustments and write-offs. The prior-year result included $5 million in such charges. Revenue plunged 30% to $174.9 million. Analysts polled by Thomson Reuters had predicted a loss of 31 cents on $187 million in revenue. Housing gross margin, excluding inventory and other valuation adjustments, rose to 15.2% from 13.9%. New orders fell 17% by number of units as closings dropped 30%. The average closing price was unchanged. Shares closed at $17.55, down 0.6%. Through the close, the stock is down 28% the past year. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240;

Stock News for Ryland (RYL)
07/30/201513:40:06Quarterly Report (10-q)
07/30/201508:20:34Current Report Filing (8-k)
07/30/201508:00:00Ryland Reports Results for the Second Quarter of 2015
07/29/201509:25:00Residential Construction Equities Technical Analysis -- KB Home...
07/21/201510:10:06Taylor Morrison Buys Three Markets From Orleans Homes
07/08/201516:49:00Ryland Homes Introduces Cromwell Ridge in Parkville, MD
07/08/201510:00:00Ryland Homes Enters the Northwest Indiana Market
07/02/201515:22:29Filing of Certain Prospectuses and Communications in Connection...
07/02/201515:11:26Current Report Filing (8-k)
07/02/201515:09:16Filing of Certain Prospectuses and Communications in Connection...
07/01/201509:55:00Ryland Homes Atlanta Opens New Model Home in ManorView Community
06/30/201516:25:00RYL SHAREHOLDER ALERT: The Law Offices of Vincent Wong Launches...
06/30/201505:35:00SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation...
06/26/201519:45:00RYLAND SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Commences an Investigation...
06/24/201518:02:00The Ryland Group, Inc. Announces Second Quarter Earnings Release...
06/24/201514:25:00RYL INVESTOR ALERT: The Law Offices of Vincent Wong Launches...
06/22/201518:31:00EQUITY ALERT: The Rosen Law Firm Announces Investigation of Ryland...
06/19/201519:46:00Lifshitz & Miller Law Firm Announces Investigation of 3D Systems...
06/19/201514:03:00RYL INVESTOR ALERT: The Law Offices of Vincent Wong Launches...
06/18/201521:05:00SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation...

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