HOME BUILDER RYLAND HAS TOP QUARTER, YEAR.

Byline: Gregory J. Wilcox  Staff Writer

CALABASAS - The Ryland Group Inc. rode strong consumer demand and low interest rates to record fourth-quarter and full-year performances, company officials said Thursday.

For the fourth quarter that ended Dec. 31, company officials reported net income of $44.9 million, or $3.21 a share, on revenues of $828.5 million. In the same period a year ago, the company earned $31.5 million, or $2.22 cents a share, on revenues of $749.6 million.

The performance ``gives us great confidence as we look to the future, and our solid cash position ensures our ability to continue our aggressive stock repurchasing while investing in the ongoing growth of the company,'' R. Chad Dreier, Ryland's chairman, president and chief executive officer, said in a written statement.

Fourth-quarter earnings were the highest in company history, and it was the sixth consecutive year of earnings growth.

The company also said it expects 2002 full-year earnings of $9.50 a share.

Records included:

--New-home orders of 2,611 in the fourth quarter, an increase of 0.4 percent over the period in 2000, and 13,095 for the year, up 9.9 percent.

--Closing volumes of 3,834 homes for the quarter, up 7.7 percent, and 12,686 homes for the year, up 11.1 percent.

--A fourth-quarter backlog of 4,577 homes, representing a 9.8 percent increase over the backlog at Dec. 31, 2000.

For all of 2001, Ryland reported net income of $132.1 million, or $9.88 a share, up from net income of $82.3 million, $6.19, in the prior year.

Revenues were $2.7 billion versus $2.3 billion.

David Weaver, an analyst at Legg Mason, said it was a significant achievement for a company to improve its balance during a weak economy.

``It's a reflection of the housing boom that has taken place out there,'' he said.