Hughes parent company earnings up

Wednesday, May 9, 2001 | 11 a.m.

The parent company of the Howard Hughes Corp. Tuesday reported first-quarter earnings that beat analysts' expectations.

Officials with the Rouse Co., Columbia, Md., reported earnings of $70.5 million, 93 cents a share, on revenue of $138.4 million, compared with earnings of $63.1 million, 82 cents a share, on revenue of $132.1 million for the same quarter a year earlier.

A survey of analysts by Thomson/First Call projected earnings to be 84 cents a share for the quarter ended March 31.

Rouse/Howard Hughes, the largest developer in Nevada, is developing the Summerlin master-planned community and has a big collection of office, retail and warehouse properties in the Las Vegas area.