Beazer Homes Reports Fourth Quarter and Full Year Fiscal 2012 Results
ATLANTA--(BUSINESS WIRE)--Nov. 12, 2012-- Beazer Homes USA, Inc. (NYSE: BZH) # today announced its financial results for the quarter and fiscal year ended September 30, 2012.
“I'm pleased with the significant progress we made in 2012 strengthening both our business and our balance sheet,” said Allan Merrill, President and Chief Executive Officer of Beazer Homes. “Operationally, we generated significant growth in orders, closings and backlog, while seeing improving trends in gross margins. From a balance sheet perspective, we added liquidity, improved our book value, extended debt maturities and reduced interest expense."
"In 2013, we expect to meaningfully improve our EBITDA, primarily by achieving margin expansion and further improvement in our 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.”
Summary results of the fiscal year and quarter are as follows (all per share amounts are calculated after giving effect to a 1-for-5 reverse stock split completed subsequent to September 30, 2012):
Full Year Results from Continuing Operations (unless otherwise specified)