Lennar in recovery mode, but still a long, long road to go!

Per earnings release on Wednesday, Jan 11, 2012:

Lennar, the homebuilder, reported a profit of 16 cents a share in the fourth quarter (Lennar’s Q4 ended 11/30/11) missing by a penny the average estimate of analysts, but topped analysts' views for revenue.

The company said revenue (for its Q4) jumped 11% from last year to $952.7 million, beating analysts' estimates of $914 million, according to Thomson Reuters.

A year earlier, Lennar earned 17 cents a share on revenue (for its Q4) of $860.1 million.

The company also reported that new orders rose 20% to 3,027 homes, while the Miami-based company's backlog, an indication of future business, grew 35% to 2,171 homes.

Gross margin on home sales also improved, rising to 19.4% from 17.7% a year earlier.

Lennar shares were falling 0.2% to $20.71 in early trading.

Compiled by Reprographics 101:

	(in millions)
Lennar Corp (NYSE: LEN)	Annual Sales
Year End 11/30/06	$16,266
Year End 11/30/07	$10,187
Year End 11/30/08	$4,575
Year End 11/30/09	$3,119
Year End 11/30/10	$3,074
Year End 11/30/11	$3,095

Stock price highlights:

Lennar’s stock price on July 29, 2005 - $67.05

Lennar’s stock price on November 21, 2008 - $3.64

Lennar’s stock price at market close on January 11, 2012 - $22.25 (up $1.49)