UPDATE: Ryland Posts Q4 Profit

The Ryland Group RYL reported a rise in its fourth-quarter net income. Ryland's quarterly net income surged to $28.6 million, or $0.55 per share, up from $812,000, or $0.02 per share, in the year-ago period. Its per-share earnings from continuing operations came in at $0.56 per share. Its revenue climbed to $440.1 million from $261.4 million. However, analysts were expecting earnings of $0.49 per share on revenue of $407 million. Ryland shares rose 3.36% to $42.70 in after-hours trading.