July 25, 2012 / 9:01 PM / 5 years ago

Ryland 2nd-qtr misses estimates

July 25 (Reuters) - Home builder Ryland Group Inc's second-quarter profit narrowly missed analysts' expectations even as new orders soared.

Net income was $6.3 million, or 14 cents per share, in the second quarter compared with a net loss of $10.7 million, or 24 cents per share, last year.

Revenue rose 39 percent to $293.8 million.

Analysts were expecting earnings of 15 cents a share on revenue of $297.8 million, according to Thomson Reuters I/B/E/S.

Ryland said new orders increased 42 percent to 1,398 homes.

Shares of the company closed at $24.81 on Wednesday on the New York Stock Exchange. (Reporting by Tej Sapru in Bangalore; Editing by Roshni Menon)

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