Beazer Homes Inc. (BZH)

[Zephyr]

16:27:12 BZH Beazer Homes beats by $0.72, beats on revs; announces 12.5 mln share offering, announces $300 mln senior note offering


Reports Q2 (Mar) earnings of $0.10 per share, excluding non-recurring items, $0.72 better than the Thomson Reuters consensus of ($0.62); revenues rose 6.2% year/year to $198.2 mln vs the $191.4 mln consensus. New orders from continuing operations: 1,673 homes, an increase year-over-year of 48.8%. Cancellation rate improved to 17.6% in the second quarter compared to 26.9% in the first quarter of this year and 29.8% in the second quarter of the prior year. Gross profit margin of 13.1% (18.3% without impairments and abandonments), compared to -11.9% (11.1% without impairments and abandonments) in the second quarter of the prior year. Backlog: 1,781 homes with a sales value of $394.5 million compared to 1,278 homes with a sales value of $296.3 million as of March 31, 2009.