Beazer Homes 4Q loss widens
Homebuilders, Meltdown, News, Spillover | (0)
From Forbes:
Struggling homebuilder Beazer Homes USA Inc. said Tuesday its fiscal fourth-quarter losses more than tripled as revenue plunged and its income tax provision ballooned.
Losses for the quarter ended Sept. 30 totaled $473.9 million, or $12.29 per share, compared with year-ago losses of $155.2 million, or $4.03 per share. Losses from continuing operations totaled $12.32 per share in the latest period.
Atlanta-based Beazer said revenue fell to $712.6 million from $1.09 billion as home closings tumbled 38 percent.
Meanwhile, the company's income tax provision swelled to $334.9 million versus a tax gain of $76.6 million last year. Having posted losses for the ...
