Hovnanian Enterprises Inc. Q4 Income Rises

(RTTNews) - Hovnanian Enterprises Inc. (HOV) released a profit for its fourth quarter that rose from last year.

The company's bottom line totaled $46.18 million, or $0.29 per share. This compares with $11.84 million, or $0.08 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 14.8% to $614.81 million from $721.69 million last year.

Hovnanian Enterprises Inc. earnings at a glance:

-Earnings (Q4): $46.18 Mln. vs. $11.84 Mln. last year. -EPS (Q4): $0.29 vs. $0.08 last year. -Analysts Estimate: $0.19 -Revenue (Q4): $614.81 Mln vs. $721.69 Mln last year.