Beazer also reported 2,365 home closings, a record for the company and an increase of 28%. The company reported new orders of 2,510, an increase of 40%; and a backlog of 4,122 homes valued at $815 million, up 42%, also a record.
New orders for the quarter were up in all four of Beazer's regions and in every state. Arizona, California, Florida, Nevada, Tennessee and Texas each had increases of more than 25%.
The company said it earned $23.2 million, or $2.47 per share, compared to $14.3 million, or $1.61 per share, in the same quarter in the previous fiscal year. Revenue for the quarter increased to $489.7 million from $365.1 million.
Ian J. McCarthy, president and chief executive officer of Beazer Homes, expects another record performance in 2002. "Earnings per share of $2.47 for the first quarter of fiscal 2002 were up 53% from the first quarter of fiscal 2001 and represent a December quarter record for Beazer," McCarthy says in a prepared statement.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
