The Miami-based real estate investment, finance and management company exceeded by 13 cents all analyst forecasts tracked by the financial services firm Thompson/First Call.
"With our strong results in the first half of the year, we remain confident that we can achieve our earnings per share goal of $3.70 to $3.85 for fiscal 2001," Steven J. Saiontz, LNR Property chief executive officer, says in a prepared statement.
The spinoff of Miami-based Lennar Corp. reported net earnings of $38.4 million, or $1.10 per diluted share, on total revenue of $130 million for the three months ended May 31, compared with net of $33.3 million, or 96 cents a share, on total revenue of $125 million for the same period in 2000.
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