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03-28-08
Lennar posts lost, but beats forecasts
Lennar Corp., one of the nation’s largest home builders, on Thursday suffered its fourth straight quarterly loss, writing off more than $100 million in land and assets as the housing market continues to deteriorate.
The Miami-based company said its first-quarter net loss was $88.2 million, or 56 cents a share. That compares with a profit of $68.6 million, or 43 cents a share, in the same period a year ago. The loss, though, was less than half what Wall Street analysts had predicted.
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