The second topic relates to our common stock. We're very sensitive to the dilution experienced by our shareholders with the recent capital raise and the share price performance since the offering. At the same time, we have heard from many market participants that our low share price and high stock price volatility are impediments for prospective shareholders. For this reason, the board is currently considering whether a reverse stock split may be beneficial. While a reverse split, we do nothing to change the value of the company, it may signal to investors that our balance sheet has been substantially enhanced and we're now in a forward-looking path-to-profitability mode. In the event we decide to pursue such a reverse split, we would expect to adjust downward our total authorized shares by some amount. And of course, any decision by our board on this matter would be explicitly subject to shareholder approval.The highlights from our third quarter include substantially higher new home orders and closings with improvements in every geographic segment. This quarter represents the fourth consecutive quarter of year-over-year improvement in these key metrics.
Beazer Homes USA Management Discusses Q3 2012 Results - Earnings Call Transcript
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