Beazer Homes USA Inc. (BZH) reported first-quarter net loss of $48.81 million or $0.66 per share compared with a profit of $48.0 million or $1.17 per share last year.
On average, 11 analysts polled by Thomson Reuters expected loss per share of $0.46 for the quarter. Analysts' estimates typically exclude one-time items.
Total revenue for the three months ended December 31, 2010 dipped to $110.30 million from $213.07 million in the comparable period a year earlier. Ten analysts estimated revenues of $164.30 million for the quarter.
For the first fiscal quarter, net new home orders decreased 23.9%, the number of homes closed decreased 43.6% and homebuilding revenues from continuing operations decreased 47.3% as compared to the first quarter of fiscal 2010.
by RTT Staff Writer
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