Meritage Homes Corp. (MTH) announced that its fourt-quarter net profit was $43.29 million or $1.35 per share, compated to a net loss of $79.15 million or $2.58 per share in the fourth quarter of 2008.
Adjusted loss before income taxes for the quarter was $8.26 million, compared to profit of $871 thousand in the year ago quarter.
Total closing revenue for the quarter was $285.82 million, down from $399.58 million in the year ago quarter.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.44 per share on revenues of $285.01 million for the quarter. Analysts' estimates typically exclude special items.
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