Homebuilder Beazer Homes USA, Inc. (BZH) posted a significantly narrower second-quarter net loss of $19.64 million, or $0.80 a share, versus a $39.95 million, or $2.54 a share loss last year. On average, 8 analysts polled by Thomson Reuters expected loss per share of $0.75 for the quarter. Analysts' estimates typically exclude one-time items.
During the quarter, the company clocked $287.9 million of total revenue, up from the prior year's $191.64 million, and beat consensus estimates of $252.24 million for the quarter.
According to Allan Merrill, chief executive of Beazer Homes, "Improvements in closings, average sales price and gross margins enabled us to generate $15 million in adjusted EBITDA, the highest amount for our fiscal second quarter since 2007. With a substantially higher backlog, improving margins and tight control of fixed costs, we expect to report positive net income for our fiscal fourth quarter, which should allow us to be profitable for the second half of fiscal 2013."
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