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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: February 14, 2003
BEAZER HOMES USA, INC.
(Exact name of registrant as specified in its charter)
| DELAWARE (State or other jurisdiction of incorporation) |
001-12822 (Commission File Number) |
54-2086934 (IRS Employer Identification No.) |
||
5775 Peachtree Dunwoody Road, Suite B-200 Atlanta Georgia 30342 (Address of Principal Executive Offices) |
||||
(404) 250-3420
(Registrant's telephone number, including area code)
None
(Former name or former address, if changed since last report)
Item 5. Other Events.
On February 12, 2003, Beazer Homes USA, Inc. (the "Company") issued the press release attached hereto as exhibit 99.1 and made a part hereof announcing that its Board of Directors has authorized a stock repurchase program of up to one million shares of its common stock. For additional information, please see the press release.
Item 7. Financial Statements and Exhibits.
- (c)
- Exhibits
| 99.1 | Press release issued February 12, 2003. |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BEAZER HOMES USA, INC. | |||
Date: February 14, 2003 |
By: |
/s/ DAVID S. WEISS David S. Weiss Executive Vice President and Chief Financial Officer |
|
SIGNATURES
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EXHIBIT 99.1
| Press Release For Immediate Release |
Beazer Homes USA, Inc. Board of Directors
Authorizes Stock Repurchase of Up to One Million Shares
Atlanta, Ga., February 12, 2003—Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) announced today that its Board of Directors has authorized a stock repurchase program of up to one million shares of its common stock. The Company may repurchase these shares in the open market from time to time, subject to market conditions.
Ian J. McCarthy, President and Chief Executive Officer of Beazer Homes, said, "In authorizing this stock repurchase, our Board of Directors is reaffirming its confidence in the long-term cash flow generation and growth prospects for our business. In addition, they are expressing the view that our stock price does not fairly reflect those prospects and that the allocation of funds to a stock repurchase fits with our focus on return on capital. The Board of Directors intends to continually review the appropriate allocation of funds among reinvestment in the business, acquisitions, return of capital to shareholders and repayment of debt, given our commitment to a conservative financial position and maximizing return on capital."
Beazer Homes USA, Inc., based in Atlanta, Georgia, is one of the country's ten largest single-family homebuilders with operations in Arizona, California, Colorado, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia. Beazer Homes also provides mortgage origination and title services to its homebuyers.
| Contact: | David S. Weiss Executive Vice President and Chief Financial Officer (404) 250-3420 dweiss@beazer.com |
Beazer Homes USA, Inc. Board of Directors Authorizes Stock Repurchase of Up to One Million Shares