UPDATE: Lennar Posts Higher FQ4 Profit

Lennar LEN reported a rise in its fiscal fourth-quarter profit. Lennar's quarterly profit surged to $164.1 million, or $0.73 per share, from a year-ago profit of $124.3 million, or $0.56 per share. Its revenue climbed 42% to $1.92 billion from $1.35 billion. However, analysts were estimating earnings of $0.62 per share on revenue of $1.88 billion. Lennar's deliveries of homes rose 27%, while new orders climbed 13%. Lennar shares closed at $35.20 yesterday.