Home builder Beazer reports $110 million net loss

Investigations of company practices are ongoing
Published on Aug 11, 2008

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by CareyBot

Home builder Beazer Homes USA Inc. announced a net loss of $109.7 million, or $2.85 per share, for the third-quarter ended June 30. The company's net loss was lower than expected: analysts had predicted a loss of $2.34 per share.

The company, which has been the subject of several ongoing state and federal investigations, reported that the loss included $95.5 million in pre-tax charges related to inventory impairments and the abandment of land option contracts.

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