Beazer Homes (NYSE: BZH) reported Friday that the homebuilder earned a profit in its fiscal first quarter, according to Associated Press.
The company earned $48 million, or $1.17 a share, in its fiscal first quarter ended in December, compared to a loss of $80.3 million, or $2.08 a share, in the prior-year period.
The builder earned a $101 million tax gain. Revenue was flat at $218.8 million versus $218.2 million.
Without accounting for the tax gain, analysts polled by Thomson Reuters were expecting a loss of 90 cents a share on revenue of about $200.6 million.
The company said orders for new homes increased almost 37 percent compared to year-ago levels.
Completed sales also rose 8 percent from the same period a year earlier. The number of buyers who backed out of contracts dropped to 27 percent from 46 percent a year ago.
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