Lennar scraps outlook as profit falls

(Reuters) - "Until we see prices stabilize... we will not be able to project the timing or the scope of margin recovery," Stuart Miller, president and chief executive officer, said in a statement.

For the fiscal first quarter ended February 28, Lennar said it earned $68.6 million, or 43 cents per share, down from $258.1 million, or $1.58 per share in the year earlier quarter.


Read more at Reuters.com Business News