• Lennar Corp. reported earnings of $452.7 million in the April-June period, which was $2.06 per diluted share. Second-quarter 2011 saw earnings of $13.8 million, or $0.07 per diluted share.
• The change was inflated by a $403 million net operating loss carryover, but without that, per-share earnings tripled to $0.21.
• Lennar said lower incentives, stricter cost controls and high prices made real contributions to the results.

From the article: "Lennar ($28.45 1.06%) second quarter earnings surged on an increase of the home builder's deliveries and new orders, as well as a tax adjustment that boosted gains. ..."