Beazer Homes reports lower loss

Beazer Homes reported sharply lower first-quarter revenues and home sales Monday compared to the same period the previous fiscal year.

Total revenue was $232.4 million, down more than 53 percent compared to $500.7 million in the previous first quarter, and only 938 homes sold compared to 2,006 first-quarter sales a year earlier, a decrease of 53.2 percent.

The struggling Atlanta-based company’s net loss from continuing operations of $80.1 million, or $2.08 a share, was less than the net loss of $137.7 million in the previous first quarter.

Orders for new homes fell more than 56 percent to 545 homes.

“The housing industry continues to face the most difficult business conditions in many decades,” President and CEO Ian J. McCarthy said in a statement. “During our first fiscal quarter, this challenging environment was greatly exacerbated by continued significant weakening in the overall economy. We continue to adapt to the reality of lower home closing volumes by further reducing our cost structure.

“Combined with our disciplined focus on generating and maintaining liquidity, we believe these actions will help us weather this unprecedented housing environment.”