Red Bank, NJ, November 3--Homebuilder Hovnanian Enterprises lowered its full-year 2004 earnings forecast, due to unusually wet weather in the southern California region.
The company said it expects full-year earnings of about $5.30 per diluted share. Previously it had forecast that earnings would top $5.30 per share.
Analysts polled by Reuters expected on average that Hovnanian would post a full-year share of $5.33.
