Beazer Homes Swings to Loss
ATLANTA (TheStreet) -- Beazer Homes (BZH) - Get Report swung to a fiscal fourth-quarter loss as new orders dropped 20% from a year earlier.
Beazer Homes
said it had a loss of $59.5 million, or 81 cents a share, compared with year-ago earnings of $33.8 million, or 84 cents a share.
The loss from continuing operations was 78 cents a share, wider than the Thomson Reuters average estimate for a loss of 46 cents a share.
Revenue fell to $274.8 million in the fourth quarter, down from $365.6 million a year earlier. Analysts projected revenue of $255.3 million.
For the quarter, Beazer reported 1,189 home closings, a drop of nearly 30% from a year ago. New orders fell 20% to 810 homes.
-- Written by Robert Holmes in Boston
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