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MIAMI-With the housing market still reeling, locally based Lennar Corp. reported a $513.9-million loss, or $3.25 per diluted share, for the third quarter, in a conference call Tuesday. This compared with net earnings of $206.7 million, or $1.30 per diluted share, for the third quarter in 2006.
The company reported that revenues for the quarter of $2.3 billion, reflecting a 44% drop. “These continue to be very difficult times in the homebuilding industry,” said Lennar Corp. president and CEO Stuart Miller during the call. “There are times when the market speaks loudly and clearly to retrench and this is one of those times.”
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