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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (14862)	11/5/2004 9:24:13 AM
From: Pogeu Mahone	Respond to of 116555

Beazer Homes Posts Higher 4Q Profit 11.05.2004, 07:33 AM First-time homebuilder Beazer Homes USA Inc. said Friday that fourth-quarter earnings rose sharply due to strength in home orders from the Mid-Atlantic, Southeast and West regions. Quarterly profit rose 40 percent to $80.1 million, or $5.82 per share, from $57.2 million, or $4.18 per share, a year ago. Analysts surveyed by Thomson First Call were looking for the company to post earnings of $5.49 per share on sales of $1.31 billion in the latest quarter. Revenue increased to $1.21 billion from $1.04 billion last year. The company said its backlog now stands at a fourth-quarter level of 8,456 homes with sales value of $2.24 billion, up 13.9 percent and 35.9 percent, respectively, from year-ago levels. Beazer said growth in new home orders for the quarter resulted from increases in the company's Mid-Atlantic, Southeast and West regions. This was partially offset by lower orders in the Central region and parts of the Midwest and Carolinas. Overall, Midwest orders were flat year-over-year. Looking ahead, Beazer is forecasting fiscal 2005 earnings of $20 to $21 per share, compared with analyst consensus estimates of $18.03.