The company reported net earnings of $97 million, or $1.40 per diluted share on total revenue of $1.4 billion for the quarter, compared with net of $36.4 million or 64 cents per diluted share, on revenue of $968 million for the same time period in 2000.

"Given the continued strength in the homebuilding industry, combined with the successes we have achieved year-to-date and our strong $2.8 billion backlog, we are increasing our EPS goals for 2001 and 2002 to $5.25 and $6 respectively," Stuart Miller, Lennar president and chief executive officer, says in a prepared statement. "The achievement of these goals would establish a five-year EPS compounded annual growth rate of 33% for 1997-2002."

The company also reported net earnings of $148 million, or $2.15 per diluted share, on total revenue of $2.5 billion for the six months ended May 31, compared with net of $58.7 million, or $1.03 per diluted share, on revenue of $1.6 billion for the same period in 2000.