0001104659-07-005038.txt : 20070126 0001104659-07-005038.hdr.sgml : 20070126 20070126170533 ACCESSION NUMBER: 0001104659-07-005038 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070126 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070126 DATE AS OF CHANGE: 20070126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEAZER HOMES USA INC CENTRAL INDEX KEY: 0000915840 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 582086934 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12822 FILM NUMBER: 07557408 BUSINESS ADDRESS: STREET 1: 5775 PEACHTREE DUNW00DY RD STREET 2: STE B 200 CITY: ATLANTA STATE: GA ZIP: 30342 BUSINESS PHONE: 4042503420 MAIL ADDRESS: STREET 1: 5775 PEACHTREE DUNWOODY RD STREET 2: STE C-200 CITY: ATLANTA STATE: GA ZIP: 30342 8-K 1 a07-2810_28k.htm 8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: January 26, 2007

BEAZER HOMES USA, INC.

(Exact name of registrant as specified in its charter)

DELAWARE	001-12822	54-2086934
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

1000 Abernathy Road, Suite 1200

Atlanta Georgia 30328

(Address of Principal

Executive Offices)

(770) 829-3700

(Registrant’s telephone number, including area code)

None

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition

On January 26, 2007, Beazer Homes USA, Inc. issued a revised consolidated income statement and supplemental financial data schedule for the three months ended December 31, 2006 attached hereto as Exhibit 99.1. The previous version of the consolidated income statement, included in the Company’s earnings press release issued on January 25, 2007, has been revised to reflect an adjustment for the elimination of intercompany financial services revenue and cost of sales. This revision to the consolidated income statement resulted in the elimination of approximately $3 million of revenue and cost of sales. This change has no effect on consolidated gross profit, operating loss or net loss for the three months ended December 31, 2006.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Revised consolidated income statement and supplemental financial data schedule

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BEAZER HOMES USA, INC.



Date: January 26, 2007	By:	/s/ James O’Leary
		James O’Leary
		Executive Vice President and
		Chief Financial Officer

EX-99.1 2 a07-2810_2ex99d1.htm EX-99.1

Exhibit 99.1

BEAZER HOMES USA, INC.
CONSOLIDATED OPERATING AND FINANCIAL DATA
(Dollars in thousands, except per share amounts)

FINANCIAL DATA

	Quarter Ended
	December 31,
	2006			2005
INCOME STATEMENT
Total revenue	$	803,014		$	1,105,616
Home construction and land sales expenses	661,982			829,859
Inventory impairments and option project abandonments	119,923			2,927
Gross profit	21,109			272,830

Selling, general and administrative expenses	115,368			133,078
Operating income/(loss)	(94,259		)	139,752
Equity in income/(loss) of unconsolidated joint ventures	(2,360		)	352
Other income	1,993			4,103

Income/(loss) before income taxes	(94,626		)	144,207
Income tax expense/(benefit)	(35,620		)	54,294
Net income/(loss)	$	(59,006	)	$	89,913

Net income/(loss) per common share:
Basic	$	(1.54	)	$	2.20
Diluted	$	(1.54	)	$	2.00


Weighted average shares outstanding, in thousands:
Basic	38,280			40,958
Diluted	38,280			45,607

BEAZER HOMES USA, INC.

CONSOLIDATED OPERATING AND FINANCIAL DATA

(Dollars in thousands)

	Quarter Ended
	December 31,
SUPPLEMENTAL FINANCIAL DATA:	2006			2005

Revenues
Homebuilding operations	$	781,996		$	1,073,427
Land and lot sales	12,667			24,955
Financial services	11,743			10,978
Intercompany elimination	(3,392		)	(3,744		)
Total revenues	$	803,014		$	1,105,616
Gross profit
Homebuilding operations	$	5,302		$	262,150
Land and lot sales	4,064			(298		)
Financial services	11,743			10,978
Total Gross profit	$	21,109		$	272,830
Selling, general and administrative
Homebuilding operations	$	106,855		$	122,395
Financial services	8,513			10,683
Total selling, general and administrative	$	115,368		$	133,078


SELECTED SEGMENT INFORMATION
Revenue:
West region	$	297,907		$	368,592
Mid-Atlantic region	92,228			199,506
Florida region	91,245			145,581
Southeast region	155,129			176,933
Other homebuilding	158,154			207,770
Financial services	11,743			10,978
Intercompany elimination	(3,392		)	(3,744		)
Total revenue	$	803,014		$	1,105,616

Operating income/(loss)
West region	$	(26,504	)	$	63,739
Mid-Atlantic region	(3,251		)	49,501
Florida region	(28,493		)	30,631
Southeast region	8,434			16,103
Other homebuilding	(15,708		)	720
Financial services	3,230			295
Segment operating income/(loss)	62,292			160,989
Corporate and unallocated	(31,967		)	(21,237		)
Total operating income/(loss)	$	(94,259	)	$	139,752