Beazer Homes posts positive Q1 results

Atlanta-based Beazer Homes has reported first-quarter net income of $739,000, compared with a net loss of $48.8 million in the prior-year quarter.

In the quarter ended Dec. 31, 2011, revenue totaled $188.5 million, up 73% from $109.0 million in the same period a year ago.

“I am pleased with our results for the quarter,” said Allan Merrill, president and CEO of Beazer Homes. “In spite of still challenging market conditions, our team managed to generate a 36% improvement in year-over-year new home orders while reducing overhead costs in dollar and percentage terms. While we have a lot of work in front of us to return to sustainable profitability, we are committed to delivering higher orders and closings as well as positive EBITDA for the full fiscal year.” 

Total new orders for the quarter were 724 homes, a 36% increase from fiscal 2011.

Total backlog from continuing operations totaled 1,307 homes with a sales value of $315.8 million, compared with 787 homes with a sales value of $198.0 million as of Dec. 31, 2010.

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