On May 12, 2008, Beazer Homes USA, Inc. (‘the Company’) filed its annual report on Form 10-K for the year ended September 30, 2007, amended quarterly reports on Forms 10-Q/A for the quarters ended December 31, 2006 and March 31, 2007 and its quarterly report on Form 10-Q for the quarter ended June 30, 2007. These reports reflect the completed restatement of certain prior periods’ financial statements resulting from the findings of an independent investigation by the Audit Committee of the Board of Directors. As a result of accounting errors and irregularities discovered during the course of the investigation, the fiscal 2007 Form 10-K includes restated consolidated financial statements for fiscal 2005 and 2006 and restated Selected Financial Data for fiscal years 2003 and 2004. In addition, the cumulative effect of errors and irregularities attributed to periods prior to October 1, 2002 has been reflected in Selected Financial Data as an increase to retained earnings at September 30, 2002 for fiscal years 1998–2002. As a result the restatement, the Company’s previously issued financial statements for the periods impacted by the restatement as described above, the related audit reports of the Company’s independent registered public accounting firm, and other disclosures and communications should no longer be relied upon to the extent they relate to the restated information.
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