William Lyon Homes (WLH) opened steady, moved higher earlier in the session but has since settled into lower action after issuing quarterly results that largely impressed — at least initially.
WLH reported Q1 net income of $8.7 million, or $0.27 per diluted share, beating Cap IQ estimates $0.15 per share. For the same quarter last year, WLH reported a net income loss of $2.5 million, or $0.24 per share.
The company also reported total revenue of $149.9 million, beating estimates of $124.4 million, and nearly double for total revenue for Q1 2013.
Shares of WLH are down a little over 1% at $26.81 with a 52-week range of $18.81 to $255.23. Volume is light.
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