Ryland posts Q4 loss

Calabasas, Calif.-based Ryland Group has posted a net loss of $19.1 million for its fourth quarter ended Dec. 31, 2010, compared with net earnings of $39.0 million for the same period in 2009.

Home-building revenues were $221.1 million for quarter, down 45.5% from $405.3 million for the same period in 2009. This decrease was primarily due to a 45.4% decline in closings, totaling 909 units for the quarter, compared with 1,666 units for the same period in 2009.

The home-building segments posted a pretax loss of $17.2 million during the quarter, compared with a pretax loss of $55.1 million for year-ago period. New orders totaled 776 units for the quarter, down 19.9% from new orders of 969 units for the same period in 2009.

For the year ended Dec. 31, 2010, Ryland reported a consolidated net loss of $85.1 million, compared with a consolidated net loss of $162.5 million for the prior year.

Home-building revenues totaled $1.0 billion for the year, down 16.9% from $1.2 billion  2009.

The home-building segments reported a pretax loss of $47.1 million for the year, compared to a pretax loss of $245.3 million for 2009. Closings were 4,245 units for 2010, compared with 5,129 units for the same period in the prior year.