Beazer Reports Quarterly Loss of 81 Cents Per Share

Beazer Homes USA (BZH) reported a loss of 81 cents per share for the quarter ended Sept. 30, compared with earnings of 84 cents per share a year earlier.

Revenue for the quarter fell to $274.8 million, from $365.6 million a year earlier, the company said in a statement. Beazer took a $26.5 million non-cash pre-tax charge related to inventory impairments.

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For the full fiscal year, Beazer reported a loss of 57 cents per share, compared with a loss of $4.90 a year earlier. Revenue rose to $1 billion from $971.7 million in fiscal 2009.

"We are pleased with the overall operational and financial progress we made during fiscal 2010," CEO Ian McCarthy said. "With a substantially improved balance sheet and gradually improving operational performance, we believe we are well positioned to participate in the eventual housing recovery."