Lennar Corporation
Industry: Construction Services

Lennar Corporation operates as a homebuilder & a provider of financial services in the US. Its homebuilding operations include the sale & construction of single-family attached & detached homes, as well as the purchase, development & sale of residential land directly & through unconsolidated partnerships. As of November 30, 2003, Lennar's market regions consisted of homebuilding divisions in Florida, Maryland, Virginia, New Jersey, North Carolina, South Carolina, Texas, Illinois, Minnesota, California, Colorado, Arizona & Nevada. The Company's financial services subsidiaries provide mortgage financing, title insurance, closing services & insurance agency services for both buyers of Lennar's homes & other buyers. These subsidiaries also provide high-speed Internet access, cable television & alarm installation & monitoring services to residents of communities the Company develops & other communities.

Business Summary
Lennar Corporation (Lennar) operates as a homebuilder and a provider of financial services in the United States. The Company's homebuilding operations include the sale and construction of single-family attached and detached homes, as well as the purchase, development and sale of residential land directly and through unconsolidated partnerships. The Company's financial services subsidiaries provide mortgage financing, title insurance, closing services and insurance agency services for both buyers of Lennar's homes and other buyers, and sell the loans they originate in the secondary mortgage market. Through these financial services operations, the Company also provides high-speed Internet access, cable television and alarm installation and monitoring services to residents of communities the Company develops, as well as other communities.

Financial Summary
For the nine months ended 31 August 2005, Lennar Corporation's revenues increased 27% to $8.84B. Net income from continuing operations increased 35% to $763.3M. Revenue reflects increased sales from home building division and financial services division. Net income also reflects an increase in equity in earnings from unconsolidated entities and a significant decrease in management fee and other expenses.