Second-largest U.S. homebuilder boosts profit

Posted online March 20, 2014 | 6:42 am

Lennar Corp., the second-largest U.S. homebuilder by revenue, produced net income of $78.1 million for its first quarter, up from $57.5 million a year earlier.

Fox News reports the company sold 3,609 homes during the quarter, at an 18 percent higher average selling price.

The company's order backlog also jumped 33 percent to $1.9 billion.

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