Beazer Homes USA, Inc. (BZH: Quote) reported a net loss for the first quarter of $20.4 million or $0.84 per share, compared to net income of $739,000 or $0.04 per share for the year-ago quarter.
Loss from continuing operations for the first quarter was $18.9 million or $0.78 per share, compared to income from continuing operations of $0.04 per share in the prior year quarter.
Total revenue for the first quarter rose to $246.90 million from $188.55 million a year ago.
Analysts polled by Thomson Reuters expected the company to report a loss of $1.00 per share on revenue of $259.74 million for the first quarter.
Separately, Beazer Homes said that it is proposing to issue $200 million aggregate principal amount of Senior Notes due 2023 in a private offering. The company said it plans to use the net proceeds from the offering to fund or replenish cash that is expected to be used to fund the redemption of its 6?% senior notes due 2015 and for general corporate purposes.
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by RTT Staff Writer
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