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Beazer Homes USA 3rd-quarter loss widens

Published on NewsOK Modified: July 31, 2014 at 7:24 am •  Published: July 31, 2014

ATLANTA (AP) — Beazer Homes USA Inc.'s fiscal third quarter loss widened, stung by a loss on debt extinguishment.

The Atlanta homebuilder reported a loss of $12.4 million, or 47 cents per share, for the period ended June 30. That compares with a loss of $5.8 million, or 23 cents per share, in the same quarter a year earlier.

Income from continuing operations was $6.6 million when stripping out a $19.8 million loss on debt extinguishment.

The homebuilder said revenue rose 13 percent to $354.7 million from $314.4 million. Analysts surveyed by FactSet expected higher revenue of $359.9 million.

The average sales price for homes closed on rose 12.1 percent, while new home orders fell 6.6 percent.