Beazer Homes Returns To Profit for Year

Atlanta, GA, Nov. 12, 2014 -- Beazer Homes reported fiscal fourth-quarter net income of $59.8 million or $1.88 per share, compared to $11.9 million a year ago.

The firm also posted revenue of $545.9 million, up from $438.3 million last year.

For its fiscal year, Beazer reported net income of $34.4 million, rebounding from a fiscal year loss last year of $33.8 million.

“Returning to profitability represents a key milestone for our employees and shareholders, particularly because it was achieved from fewer new home communities, lower home closings and in a challenging home sales environment," said CEO Allan Merrill. With an expanded community count as we enter fiscal 2015, I’m confident we have built a foundation that will deliver greater profitability in the years ahead.”