William Lyon Homes

The Newport Beach home builder reported net income for the first quarter of $7.6 million, or 73 cents a share, 41% higher than the $5.4 million, or 51 cents a share, posted for the like period last year.Revenue declined 19% to $67 million, but new-home orders increased 16% to 759 units and the number of homes closed rose slightly to 519 units from 517 units a year earlier, the company said.