Meritage profit up 179% as sales rise

meritage-homes-598By Catherine Reagor | The Republic | azcentral.com

Scottsdale-based Meritage Homes posted a 47 percent increase in sales in its most recent quarter. The company reported home-sale revenue of $533.4 million during the last quarter of 2013, compared with $364.1 million for the same period in 2012.

Meritage’s earnings jumped 179 percent to $65.8 million during 2013’s fourth quarter. The company earned $3.25 per share for the quarter, up from $3 for the same period in 2012.

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