Meritage Homes (NYSE: MTH) Q4 loss widens
Northern, WI 1/31/12 (StreetBeat) -- U.S. homebuilder Meritage Homes Corp (NYSE: MTH) reported a net loss in the fourth quarter due to charges resulting from the closing of its Las Vegas operations, and said it expects earnings and revenue to grow in 2012.Meritage's fourth-quarter net loss was $11.8 million, or 36 cents a share, compared with $895,000, or 3 cents a share, a year ago.
Results include a $13.9 million impairment charge from the previously announced closing of its Las Vegas business.
Home closing revenue rose 14 percent to $245.7 million for the October-December period, while orders increased 5 percent.
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