Lennar earnings higher.(Lennar Corp. quarterly earnings report)(Brief Article)

Miami-based Lennar Corp. (NYSE: LEN) said net earnings increased 75 percent to $106.69 million or $1.53 a share in the quarter ended Aug. 31, up from $61 million or 90 cents a share a year earlier, exceeding First Call consensus estimates of $1.33 a share.

Revenues increased 15 percent to $1.6 billion from $1.4 billion in the same quarter last year, it was added. Lennar also said it remains comfortable with the First Call consensus earnings estimate of $1.81 a share for the current quarter, which would result in a 2001 earnings target of $5.49 a share.

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