Hovnanian Enterprises Inc (HOV)

Home builder Hovnanian Enterprises said it posted a fiscal fourth quarter loss of $250.8 million, or $3.21 a share, compared with a year-earlier loss of $450.5 million, or $5.79 a share. It was the company's 13th consecutive loss. The latest results included $146.4 million in land related-charges, down from $319.9 million a year earlier. Revenue tumbled 39% to $437.4 million. It expects a tax refund between $275 million and $295 million sometime next year.

Dec 17 · 12:01:00 PM · Source: Company News
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by Larry Etter