Losses Continue at Beazer Homes

Atlanta, GA, Feb. 9, 2009-- Beazer Homes USA, Inc. reported a net loss from continuing operations of $80.1 million, or $2.08 per share for its fiscal first quarter, including non-cash pre-tax charges of $30.1 million.

Beazer reported total revenue of $232.4 million, compared to $500.7 million in the first quarter of the prior year.

The company closed 938 homes, a decrease of 53.2% from 2,006 homes in the first quarter of the prior year.

It had new orders for 545 homes, a decrease of 56.5% from 1,252 in the first quarter of the prior year.

"The housing industry continues to face the most difficult business conditions in many decades," said CEO Ian J. McCarthy.

Homebuilding revenues declined 53.1% for the quarter, due to a 53.2% decline in home closings.