Hovnanian Enterprises Q4 Loss Widens - Quick Facts

(RTTNews) - Hovnanian Enterprises, Inc. (HOV | charts | news | PowerRating) reported fourth quarter net loss available to common stockholders of $469.26 million or $7.42 per share, compared to a loss of $117.93 million or $1.88 per share in the year-ago quarter.

Excluding land related charges and intangible impairments, pretax loss was $30.06 million, in comparison with a profit of $136.25 million in the prior year quarter.

Total revenue declined to $1.39 billion from $1.74 billion in the last year quarter. On average, analysts polled by First Call/Thomson Financial expected the company to report a loss of $1.49 per share on revenue of $1.32 billion for the quarter.

The company continues to project positive cash flow from operations in excess of $100 million for fiscal 2008.

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