Lennar Corp. (NYSE:LEN) reported its fiscal Q4 financial results before the opening bell Tuesday morning. The company earned $32.0 million, or $0.17 per share, a 10% decline from $35.6 million, or $0.19 per share, in the year-ago period. FactSet analysts forecast the company to report $0.06 per share. Revenue for the quarter fell 6% year-over-year to $860.1 million, down from $913.7 million; analysts were looking for $815.7 million.
CEO Stuart Miller said, "Although high unemployment, tight lending standards and low consumer confidence continue to present challenges for the housing industry, we are confident that 2011 will be another profitable year."
