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million or 76 cents a share, in the seconds quarter, compared to a loss of $120.0 million, or 76 cents a share, duriny the same year-ago period. Revenue for the quarterr that ended May 31was $891.o9 million, down from $1.13 billion for the same periods last year. Revenue from home sales fell 23 percentr in the second quarterto $788.6 milliomn from $1.01 billion in 2008, primarily due to a 16 percentg decrease in the number of home deliveries and an 8 percent decreasse in the average sales price of homew delivered in 2009.
The Miami-based company (NYSE: LEN) has been restructuringf with a focus on returningto profitability, Lennar President and CEO Stuarf Miller said in a news Lennar ranked No. 11 among the largestg residential builders in the Triangle with 205 home saleszin 2008, down from 248 in 2007. Total contracts in 2008 totalee $49.6 million, down from $74 million in 2007. Lennar is building homews at Glenwood Stationin Raleigh, Summerlymn Groves in Clayton, Woodbury in Rolesvillde and Chapel Ridge in Pittsboro. Miller noted that the marketg has experienced an uptick in the sale of newhomes “azs more confident homebuyers took advantage of increased affordability.
” On however, the reported that new home sales in the U.S. dippedc slightly in May. But prices are gointg back up with the median sales pricedrising 4.2 percent last month, comparede to April. Shares of Lennar were up $1.089 to $8.91 in morning trading.
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