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William Lyon Homes Reports Third Quarter Results; Net
Income up 202%
NEWPORT BEACH, Calif., Nov 4, 2004 (BUSINESS WIRE) -- William Lyon Homes (WLS)
today reported that net income for the third quarter ended September 30,
2004 increased 202% to $44,937,000, or $4.51 per diluted share, as compared
to net income of $14,867,000, or $1.49 per diluted share, for the comparable
period a year ago. Consolidated operating revenue increased 122% to
$474,950,000 for the quarter ended September 30, 2004, as compared to
$214,060,000 for the comparable period a year ago. Consolidated operating
revenue in the 2004 period includes revenue of $153,231,000 from
consolidated joint ventures with no comparable amount included in
consolidated operating revenue in the 2003 period, due to the adoption of
Financial Accounting Standards Board Interpretation No. 46, Consolidation of
Variable Interest Entities, as amended, as described below.
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