Ryland Group Inc. reported on Thursday rising third-quarter profit and revenue on strong sales and pricing of its new homes.
The Westlake Village homebuilder reported net income of $48.5 million (85 cents a share) for the quarter ended Sept. 30, compared to $53.6 million (95 cents) for the same period last year. Revenue rose 18 percent to $680 million.
Analysts on average projected earnings per share of 80 cents on revenue of $708 million, according to Thomson Financial Network.
The company attributed the strong quarter to a 7.2 percent increase in orders to 1,707 units, while rising prices increased its gross margin by a point and a half to 22.2 percent compared to a year earlier.
Ryland has built more than 300,000 homes in nearly 300 communities in 17 states.
Shares closed up $1.02, or nearly 3 percent, to $35.78 on the New York Stock Exchange.
Teledyne Technologies said Thursday that strong sales in its instrumentation and industrial business contributed to the company beating analysts’ earnings estimates even as it fell short on revenue.
The Thousand Oaks aerospace, marine and energy products manufacturer reported net income of $55.6 million ($1.47 a share), compared with $46.8 million ($1.23) in the same period a year earlier. Revenue increased 5.2 percent to $601 million.
Analysts on average expected net income of $1.28 on revenue of $609 million, according to Thomson Financial Network.
Chief Executive Robert Mehrabian said an increase in government contract work also contributed to the company’s profitability.
“Operating margin increased considerably from last year and was nearly a record,” he said in a prepared statement.
The company also announced the acquisition of Oceanscience Group Ltd., in Carlsbad, for an undisclosed price.
Oceanscience makes remote-controlled and tethered marine instruments used to measure ocean currents and for mapping the sea floor.
Shares closed up $2.40, or about 2.5 percent, to $95.97 on the New York Stock Exchange.
Interlink Electronics Inc. announced on Thursday a collaboration with the Institute of Technical Education in Singapore for the development of sensors and applications used in human interaction with machines.
The collaboration will allow the Camarillo sensor technology company access to engineering capabilities and industry-oriented infrastructure at the institute’s Technology Development Centre.
Interlink Chief Executive Steven Bronson said the partnership will accelerate growth in the company’s research and development in Singapore.
“This collaboration strengthens our strategic expansion in the Asia Pacific region to capture emerging growth market opportunities and also reinforces Singapore's strong positioning as a global technology hub,” Bronson said in a prepared statement.
Shares were unchanged at $8.50 in over-the-counter trading.