Meritage Swings To Fourth Quarter Loss

Scottsdale, AZ, January 29, 2008--Meritage Homes swung to a fourth-quarter loss due to the closure of more than 2,000 homes, goodwill write-offs and $130 million pretax charges from real estate valuation adjustments.

The home builder loss was $128.8 million, or $4.91 a share, compared with a profit of $9 million, or 34 cents a share, a year earlier.