ConDig (04-May-17).  Beazer Homes USA Inc plunged further into the red in its fiscal second quarter as a $15.6 million refinancing charge offset a 11.8% hike in revenue.

The Atlanta-based company booked a loss for the quarter ended March 31 of $7.5 million compared with a loss of $1.2 million in the same period last year.

Homebuilder revenue increased to $421.9 million from $377.3 million in the year-ago period.

Total home closings in the quarter were 1,239, up from 1,150 homes in the prior year at an average selling price from closing of $340,500 compared with $328,000.

New home orders edged up 0.7% to net of 1,549 compared with 1,538 orders in the second quarter of last year.

“Our selling proposition – to provide extraordinary value at an affordable price to millennial and active adult buyers – is perfectly aligned with both our operating experience and powerful demographic trends. That’s why we remain confident in our ability to drive significant improvements in returns and profitability in the years ahead,” said Allan Merrill, Beazer’s president and ceo.