Meritage Homes Q4 Profit Up 7%

(RTTNews) - U.S. builder Meritage Homes Corp. (MTH) Thursday announced 7 percent increase in fourth quarter net income to $52.897 million from $49.208 million last year. On a per share basis, earnings rose to $1.26 from $1.19 a year ago.

On average, 13 analysts polled by Thomson Reuters expected the company to earn $1.13 per share. Analysts estimates usually exclude special items.

Total closing revenue increased to $781.613 million from $698.92 million in the prior year. Home closing revenues were $761.37 million up from $688.288 million a year ago. Wall Street was looking for $790.72 million.