×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: US | Earns | Hovnanian

Hovnanian Trims Loss but Home Demand Falls

Wednesday, 01 September 2010 05:24 PM

Hovnanian Enterprises Inc. says its loss narrowed in its fiscal third-quarter as the homebuilder booked fewer write-downs. But signed contracts on new homes plunged 37 percent as demand slowed in the absence of homebuyer tax credits.

The company said Wednesday it lost $72.9 million, or 92 cents a share, in the three months ended July 31. That compares with a loss of $168.9 million, or $2.16 a share, in the prior-year period.

Revenue fell to $380.6 million from $387.1 million the year before.

Analysts surveyed by Thomson Reuters were expecting a loss of 52 cents a share on revenue of about $386 million.

Hovnanian is based in Red Bank, N.J.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Companies
Hovnanian Enterprises Inc. says its loss narrowed in its fiscal third-quarter as the homebuilder booked fewer write-downs. But signed contracts on new homes plunged 37 percent as demand slowed in the absence of homebuyer tax credits.The company said Wednesday it lost $72.9...
US,Earns,Hovnanian
110
2010-24-01
Wednesday, 01 September 2010 05:24 PM
Newsmax Media, Inc.
Join the Newsmax Community
Register To Comment Login To Comment
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved