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Ryland's shares slump on earnings miss, margins

Thu Apr 30, 2009 10:55am EDT

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NEW YORK, April 30 (Reuters) - Shares of Ryland Group Inc (RYL.N) fell on Thursday, the day after the homebuilder posted a wider first-quarter loss that missed analysts' estimates.

The Calabasas, California-based builder said its loss had widened to $75.3 million, or $1.76 per share, from $29.3 million, or 69 cents per share, a year earlier.

Analysts had forecast a loss of $1.10 per share, according to Reuters Estimates.

Margins also missed Wall Street's view as the company made more aggressive efforts to reduce its community count this quarter, analyst Carl Reichardt of Wachovia Capital Markets LLC wrote in a research note.

Ryland's shares were down almost 13 percent at $20.95 in morning trading on the New York Stock Exchange.

(Reporting by Helen Chernikoff; Editing by Lisa Von Ahn)

((helen.chernikoff@thomsonreuters.com; +1 646 223 6127; Reuters Messaging: helen.chernikoff.reuters.com@reuters.net)) Keywords: RYLANDGROUP/SHARES

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