- The Washington Times - Monday, March 30, 2009

Lennar Corp.’s losses increased 77 percent in its fiscal first quarter as home deliveries and average selling prices plunged despite stepped up incentives offered by the homebuilder.

The Miami-based company said late Monday that it lost $155.9 million, or 98 cents a share, for the quarter that ended Feb. 28. That compares with a loss of $88.2 million, or 56 cents a share, in the same period last year.

Revenue plunged by about 44 percent to $593.1 million from $1.06 billion.

Analysts polled by Thomson Reuters had expected a loss of 64 cents a share on revenue of about $530.4 million.

Home deliveries fell 40 percent to $530.4 million. The average selling price fell 12 percent.



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On the Net:

Lennar Corp: https://www.lennar.com/

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