KBH and MANU... KBH one I thought we would watch: Kaufman & Broad profits soar as boom continues
LOS ANGELES, June 22 (Reuters) - Homebuilders Kaufman and Broad Home Corp. said on Tuesday second-quarter net income rose 66 percent to a record $28.6 million, beating Wall Street estimates, due to higher construction volume and increased income from mortgage banking operations.
The Los Angeles-based home builder posted earnings of 58 cents per share for the quarter vs. 42 cents a share, or $17.2 million, a year earlier. Wall Street analysts' consensus estimate for the quarter was 55 cents a share, according to First Call, which tracks such forecasts.
Revenues rose 60 percent to $862.3 million from $537.5 million a year ago.
"Our second quarter 1999 results reflect strong organic growth, supplemented by growth from recent strategic acquisitions, and was fueled by the overall strength of the housing market," said Chairman Bruce Karatz.
"Net orders are strong across the board, and we see no evidence of adverse effects from the recent increase in interest rates," Karatz said.
Manugistics Posts Positive First Quarter Results
ROCKVILLE, Md., June 22 /PRNewswire/ -- Manugistics Group, Inc. (Nasdaq: MANU - news), today reported quarterly revenues and earnings for the three- month period ended May 31, 1999.
Manugistics generated revenues of $39.2 million for the quarter ended May 31, 1999. The Company reported net income for the quarter of approximately $0.4 million, or approximately $0.01 earnings per basic and diluted share, compared to a net loss of $8.5 million or $0.33 loss per basic and diluted share in the quarter ending May 31, 1998.
''With our return to profitability in the first quarter, we believe that we are turning the corner and are well positioned for the future. We are pleased that our positive performance reaffirms the confidence of our customers, employees, and partners. Building on this momentum, we intend to move swiftly to energize the company by adding new talent, delivering enhanced solutions, and creating a world-class sales organization,'' said Greg Owens, president and chief executive officer of Manugistics |
