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Homebuilder’s profit rises

Thursday, Jan. 27, 2005 | 11:03 a.m.

Beazer Homes USA Inc., which builds homes in the Las Vegas Valley, this morning reported a profit of $69.7 million or $4.70 cents per share for the first fiscal-year quarter ended Dec. 31, up from $47.2 million or $3.41 cents in the year-ago quarter.

Revenue grew 12.5 percent to $911.8 million.

The company's stock declined about 1 percent this morning, trading at $144.94, down $1.42.

Beazer reported a decline in home closings in Nevada during its first quarter.

In Las Vegas, Beazer built more than 1,500 homes in 2004, making it the area's fifth largest homebuilder, according to research firm SalesTraq.

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