Ryland Posts Loss, Shares Suffer

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In no surprise, Ryland Group Inc. on Wednesday reported a first-quarter loss due to slumping home sales and a growing inventory of unsold homes.


Ryland reported a loss for the three months ended March 31 of $29.3 million (-69 cents a share), compared with a net loss of $24.4 million (-58 cents), in the same time a year earlier.


Revenues for the Calabasas-based homebuilder fell 41 percent to $416 million.


Share in Ryland closed down 4 percent to $32.34 in trading Wednesday.

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