Beazer Homes USA First Quarter 2012 Numbers
Behind the Numbers:
Profitability eluded Beazer during its fiscal year, but it reduced its loses from 2011 by about a third. Home sales and deliveries showed jumps. Part of Beazer’s loss can be attributed to its reconfiguration of debt during its most recent quarter, which caused a $45.1 million charge. Restructuring the debt has put Beazer in a better position by reducing its interest expenses and giving it cash to bring new communities on line that should deliver closings in 2014, the company said in a news release announcing the earnings.
Beazer's fiscal year ended Sept. 30.