Homebuilder Beazer Homes USA (BZH) posted a wider loss from the previous quarter after paying down a debt of $42.4 million.
In the fourth quarter, the company posted a loss of $66.2 million, or $2.82 a share, compared to a net loss of $43.2 million, or $2.91 a share, a year earlier.
For the fiscal year, Beazer Homes posted a net loss $145.33 million, or $7.87 a share, narrowing from a loss of $204.86 million, or $13.84 a share, a year prior.
On a positive note, revenue grew 11% to $370.9 million due to an increase in construction and land sales.
Homebuilding gross margin increased 17.1% to $367.5 million, compared to $313.8 million last year.
New home orders rose 10.3% at 1,110 homes, which is compared to 1,006 homes a year prior.
President and chief executive officer Allan Merrill of Beazer Homes said he expects the company’s EBITA to improve by 2013 through margin expansion and improvement in sales per community metrics.
“While our community count will likely decrease for much of the year, we are actively investing in a substantial number of new communities, which we expect to deliver closings starting in fiscal year 2014,” he said.
