RYL- CSFB Upgraded to get hedgie clients out. Top now in
New orders rose 2.2 percent during the second quarter of 2004, compared to the same period in the prior year. New orders for the three months ended June 30, 2004, increased 4.8 percent in the Southeast and 18.0 percent in the West but decreased 9.2 percent in the North and 1.9 percent in Texas, compared to the second quarter of 2003. The number of active communities at June 30, 2004, was 318, compared to 330 active communities at June 30, 2003. The decrease in community count was attributable to the timing of project openings in Florida, Las Vegas and the mid-Atlantic region.