Homebuilder Beazer Homes USA Inc. gave Wall Street a double-shot of discouraging news Tuesday: Its fiscal fourth-quarter loss more than tripled from a year ago and it expects to lose money throughout 2009.

'Conditions in both the overall economy and housing market were under greater pressure during our fourth quarter and have continued to deteriorate since that time,' Beazer CEO Ian J. McCarthy told analysts.

Despite uncertainty over the depth of the economic downturn, McCarthy warned 'we should realistically expect that both (home sales) and average sales prices will be lower in fiscal 2009 and that we will again likely incur a loss for the year.'

Beazer shares slipped 12c, or about 8%, to $1.38 Tuesday, near its low for the year of $1.13.

Washington Post