Beazer Homes Provides Preliminary Second Quarter Data; Reiterates Expectation of Net Income for Fiscal 2014
April 03 2014 - 8:11AM
Business Wire
Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) today
provided certain preliminary operational results for its fiscal
second quarter and its approximation of the unrestricted cash
balance as of March 31, 2014.
Quarter Ended March 31, New Orders, net
Closings Backlog
2014 2013 Change
2014 2013 Change
2014 2013
Change
West 550 658 -16% 453 504 -10% 751 918 -18% East 424 442 -4% 257
383 -33% 798 762 5% Southeast 416 421 -1% 267 240 11% 614 531 16%
Total 1,390 1,521 -9% 977 1,127 -13% 2,163 2,211 -2%
As expected, new orders and closings were impacted by an
estimated 6% decline in active community count, including a 21%
decline in active community count in our West segment. In addition,
closings, as well as some new orders, were impacted by severe
weather conditions in our East Segment, which comprises
approximately 40% of our active community count.
Sales per community per month for the fiscal second quarter were
3.3, compared with 2.2 in the first quarter and 3.4 in the second
quarter of 2013.
The Company expects to report an unrestricted cash balance as of
March 31, 2014 of between $285 million and $315 million and expects
to report positive net income for fiscal 2014.
“We remain optimistic about the 2014 spring selling season,”
said Allan Merrill, CEO of Beazer Homes. “The new home market
continues to benefit from gradual improvements in the labor market,
limited home inventories and generally favorable affordability
metrics. These characteristics led to more online visits, higher
traffic to our communities and stable or improving home prices in
our markets.”
Headquartered in Atlanta, Beazer Homes is one of the country’s
10 largest single-family homebuilders. The Company’s homes meet or
exceed the benchmark for energy-efficient home construction as
established by ENERGY STAR® and are designed with Choice Plans,
which provide flexible floorplan options to meet the personal
preferences and lifestyles of its buyers. In addition, the Company
is committed to providing a range of preferred lender choices to
facilitate transparent competition between lenders and enhanced
customer service. The Company offers homes in 16 states, including
Arizona, California, Delaware, Florida, Georgia, Indiana, Maryland,
Nevada, New Jersey, New York, North Carolina, Pennsylvania, South
Carolina, Tennessee, Texas and Virginia. Beazer Homes is listed on
the New York Stock Exchange under the ticker symbol “BZH.” For more
info visit Beazer.com, or check out Beazer on Facebook and
Twitter.
Beazer Homes USA, Inc.Carey Phelps, 770-829-3700Director,
Investor Relations & Corporate
Communicationsinvestor.relations@beazer.com
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