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Miami-Based Home Builder Lennar Corp. Reports Big Surge in Profit.
Byline: Jack Snyder
Jun. 21--Lennar Corp., one of Orlando's largest home builders, reported on Wednesday a 166 percent surge in profit in the second quarter ended May 31.
Revenue for the quarter jumped 44 percent, from $986 million to $1.4 billion. Second-quarter profit totaled $97 million, up from $36.4 million in the same quarter a year ago.
Earnings per diluted share in this year's second quarter totaled $1.40, up from 64 cents a year ago. That easily topped Thomson Financial/First Call's estimates of $1.06 a share.
Chief executive Stuart Miller said the company is raising its earnings-per-share outlook because of a $2.8 billion backlog …
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