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Ryland reports 1st-quarter profit of $2.6 million

THE BALTIMORE SUN

Primarily because of a strong performance by its mortgage company, Ryland Group Inc. reported yesterday that earnings for the first quarter rose to $2.6 million, in contrast to a loss of $4.4 million in the same period last year.

But an analyst who tracks Ryland, the Columbia-based homebuilding and mortgage finance company, cautioned that the company can expect only slow improvement in the housing market.

Michael Mead, an analyst at Legg Mason Wood Walker in Baltimore, contends that the aging of the baby-boom generation will keep a partial brake on housing demand, since there will be relatively fewer young people seeking first homes.

Nancy Smith, Ryland's vice president for investor relations, said the outlook for the company remains good because of "greatly improved consumer confidence."

Three months ended 3/31/92

.. .. ..Revenue.. .. .. .. .. .. .. Net.. .. .. .. .. .. ..Share

'92.. .. 290,635,000.. .. .. .. .. .. 2,614,000.. .. .. .. 0.15

'91.. .. 231,191,000.. .. .. .. .. .. (4,389,000).. .. .. .0.41

% change.. .. .. +25.7.. .. .. .. .. .. --.. .. .. .. .. .. --

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