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Earnings Calls: 
Lennar Fourth Quarter Earnings Call
Author: Rozalina Destanova
123jump.com
Last Update: 5:11 AM EST January 29 2008

Revenue fell 51% to $2 billion as the number of homes sold, excluding unconsolidated joint ventures, dropped 49% to 6,810. The result includes a $7.50 per share charge related to valuation adjustments and other write-offs, the company said in a statement. Lennar reduced its debt by $318 million year over year, ending the quarter with $642.5 million in cash on its balance sheet. Lennar reached agreements with its lenders to amend the terms of its senior unsecured revolving credit facility.

 

 

 
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