Atlanta-based builder Beazer Homes reported today a third-quarter loss of $109.7 million or $2.85 per share — its seventh straight quarter of red ink amid the homebuilding and credit slump. Analysts had predicted a loss of $2.34 per share.

For the same period last year, Beazer posted a $118.9 loss or $3.09 per share.

"Despite lower home prices, relatively low interest rates and a large choice of available homes, potential homebuyers remain reluctant due to eroding consumer confidence amid concerns about employment growth, higher energy costs and the overall economy," Beazer Chief Executive Officer Ian McCarthy said in the announcement.

Beazer is holding a conference call today with analysts.

Compared to the same period last year, revenues fell 41.1 percent, due to a 36.9 percent decline in home closings and an 8.8 percent decline in average selling price, the company said.

The biggest dropoffs in closings occurred in the Southeast, the West and Florida. New home orders totaled 1,774, a 41.8 percent falloff compared to last year.

The federal government is investigating Beazer's lending practices in North Carolina, where a significant number of homes went into foreclosure. The company has acknowleged employees violated down-payment assistance regulations.

Beazer, which was once one of the top homebuilders in the country, has seen its orders, closings and share price plummet, and in response has slashed its workforce and taken other measures to cut costs.

The third-quarter loss was due to inventory impairments and abandonment of land-option contracts totaling $95.5 million, impairments to joint-venture investments of $18.5 million and goodwill impairments of $4.4 million. Goodwill is a non-tangible asset, such as strength of brand.