Ryland Earnings Rise 26% in Fourth Quarter

Ryland Group Inc. said quarterly profit rose 26% on higher home prices and volume.

The Calabasas-based home builder said fourth-quarter profit jumped to $108.7 million, or $2.17 a share, from $86.1 million, or $1.65, last year. Revenue rose 16% to $1.24 billion.

During the quarter, new orders rose 27.1% to 3,217 units. Ryland ended the quarter with a backlog of 7,620 homes under contract, up 30.5%. The dollar value of the company’s backlog was $2.1 billion, up 43.6%.

Shares of Ryland rose $1.46 to $61.36 on the New York Stock Exchange.