| Beazer Homes USA Third Quarter 2011 Numbers | ||
|---|---|---|
| Quarter Three | Fiscal Year | |
| Profit/(Loss) | ($43.2 M) +27% | $204.9 M -502% |
| Home Deliveries | 1,404 +18% | 3,350 -28% |
| New Orders | 1,023 +26% | 4,248 -5% |
Behind the Numbers:
Sales improved for Beazer Homes USA in its third quarter, and it lost less money than it did in the third quarter of 2010, offering hope that the company has turned a corner. But its full fiscal year numbers bled red everywhere. Impairments and costs of abandoning lot options cut into Beazer’s bottom line, as did a slightly lower average home sales price. The company was able to boost its cash balance by $43.2 million by selling some land. There are no worries the company is short on lots, however. With 26,669 owned and controlled, it still has nearly eight years of supply at its 2011 rate of sales. Beazer’s fiscal year ended Sept. 30.
