July 26, 2012 / 12:22 PM / 5 years ago

Meritage Homes 2nd-qtr earnings jump on housing recovery

July 26 (Reuters) - U.S. homebuilder Meritage Homes Corp reported a sharp jump in quarterly profit as a recovering housing market boosted pricing and orders to their highest in four years.

Meritage’s fourth-quarter net income rose to $8.0 million, or 24 cents per share from $562,000, or 2 cents per share, a year ago.

Revenue from selling homes rose 28 percent to $281.3 million.

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