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:
August 22, 2006
BEAZER
HOMES USA, INC.
(Exact
name of registrant as specified in its charter)
|
DELAWARE
|
|
001-12822
|
|
54-2086934
|
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
|
1000
Abernathy Road, Suite 1200
Atlanta
Georgia 30328
(Address
of Principal
Executive
Offices)
(770)
829-3700
(Registrant’s
telephone number, including area code)
None
(Former
name or former address, if changed since last report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item
2.02 Results of Operations and Financial Condition.
Historically,
Beazer Homes USA, Inc. (“the Company”) has reported its homebuilding operations
in one reportable segment. In May 2006, the Company revised its segment
disclosures to disaggregate its homebuilding operations into four reportable
segments and to disclose a reportable segment for its financial services
operations. At that time, the Company provided additional segment reporting
footnote disclosure for fiscal years ended September 30, 2003, 2004 and 2005
on
Form 10-K/A filed May 25, 2006. For purposes of historical comparison, the
Company is providing as an exhibit to this Form 8-K additional selected
quarterly financial and operating information for each of the quarters in
the
fiscal years ended September 30, 2003, 2004 and 2005 restated to conform
to the
new presentation.
Item
9.01. Financial Statements and Exhibits
(d)
Exhibits
99.1
Quarterly Financial Supplement Schedule.
SIGNATURES
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.
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|
BEAZER
HOMES USA, INC.
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||
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Date:
August 22, 2006
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By:
|
/s/
James O’Leary
|
|
|
|
|
James
O’Leary
|
|
|
|
|
Executive
Vice President and Chief Financial
Officer
|
|
| EXHIBIT 99.1 |
|
BEAZER
HOMES USA, INC.
|
||||||||||||||||
|
SELECTED
HISTORICAL OPERATING AND FINANCIAL DATA
|
||||||||||||||||
|
RECLASSIFIED
TO REFLECT SEGMENT REPORTING
|
||||||||||||||||
|
(Dollars
in thousands)
|
||||||||||||||||
|
Fiscal
Year Ended September 30, 2005
|
||||||||||||||||
|
1st
Qtr
|
2nd
Qtr
|
3rd
Qtr
|
4th
Qtr
|
Full
Year
|
||||||||||||
|
Closings
|
||||||||||||||||
|
West
|
1,093
|
1,249
|
1,630
|
1,714
|
5,686
|
|||||||||||
|
Mid-Atlantic
|
370
|
366
|
439
|
695
|
1,870
|
|||||||||||
|
Florida
|
320
|
386
|
528
|
1,002
|
2,236
|
|||||||||||
|
Southeast
|
897
|
783
|
933
|
1,382
|
3,995
|
|||||||||||
|
Other
homebuilding
|
894
|
818
|
1,101
|
1,546
|
4,359
|
|||||||||||
|
Total
closings
|
3,574
|
3,602
|
4,631
|
6,339
|
18,146
|
|||||||||||
|
New
orders, net of cancellations
|
||||||||||||||||
|
West
|
1,254
|
1,755
|
1,464
|
1,200
|
5,673
|
|||||||||||
|
Mid-Atlantic
|
507
|
561
|
514
|
434
|
2,016
|
|||||||||||
|
Florida
|
449
|
559
|
591
|
696
|
2,295
|
|||||||||||
|
Southeast
|
719
|
1,098
|
1,242
|
1,313
|
4,372
|
|||||||||||
|
Other
homebuilding
|
616
|
1,266
|
1,391
|
1,294
|
4,567
|
|||||||||||
|
Total
new orders
|
3,545
|
5,239
|
5,202
|
4,937
|
18,923
|
|||||||||||
|
Backlog
units at end of period
|
||||||||||||||||
|
West
|
3,168
|
3,674
|
3,508
|
2,994
|
2,994
|
|||||||||||
|
Mid-Atlantic
|
1,184
|
1,379
|
1,454
|
1,193
|
1,193
|
|||||||||||
|
Florida
|
1,329
|
1,502
|
1,565
|
1,259
|
1,259
|
|||||||||||
|
Southeast
|
1,199
|
1,514
|
1,823
|
1,754
|
1,754
|
|||||||||||
|
Other
homebuilding
|
1,547
|
1,995
|
2,285
|
2,033
|
2,033
|
|||||||||||
|
Total
backlog units
|
8,427
|
10,064
|
10,635
|
9,233
|
9,233
|
|||||||||||
|
Homebuilding
Revenue
|
||||||||||||||||
|
West
|
$
|
384,442
|
$
|
416,197
|
$
|
533,667
|
$
|
612,516
|
$
|
1,946,822
|
||||||
|
Mid-Atlantic
|
128,671
|
157,514
|
207,330
|
347,199
|
840,714
|
|||||||||||
|
Florida
|
82,088
|
95,476
|
139,181
|
281,709
|
598,454
|
|||||||||||
|
Southeast
|
150,624
|
140,622
|
185,873
|
271,793
|
748,912
|
|||||||||||
|
Other
homebuilding
|
157,049
|
150,729
|
196,839
|
283,274
|
787,891
|
|||||||||||
|
Total
homebuilding revenue
|
$
|
902,874
|
$
|
960,538
|
$
|
1,262,890
|
$
|
1,796,491
|
$
|
4,922,793
|
||||||
|
Land
and Lot Sale Revenue
|
||||||||||||||||
|
West
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
|
Mid-Atlantic
|
-
|
3,420
|
3,949
|
-
|
7,369
|
|||||||||||
|
Florida
|
57
|
439
|
-
|
-
|
496
|
|||||||||||
|
Southeast
|
(105
|
)
|
258
|
11,460
|
505
|
12,118
|
||||||||||
|
Other
homebuilding
|
1,263
|
3,646
|
5,380
|
4,255
|
14,544
|
|||||||||||
|
Total
land and lot revenue
|
$
|
1,215
|
$
|
7,763
|
$
|
20,789
|
$
|
4,760
|
$
|
34,527
|
||||||
|
Total
Revenue
|
||||||||||||||||
|
West
|
$
|
384,442
|
$
|
416,197
|
$
|
533,667
|
$
|
612,516
|
$
|
1,946,822
|
||||||
|
Mid-Atlantic
|
128,671
|
160,934
|
211,279
|
347,199
|
848,083
|
|||||||||||
|
Florida
|
82,145
|
95,915
|
139,181
|
281,709
|
598,950
|
|||||||||||
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Southeast
|
150,519
|
140,880
|
197,333
|
272,298
|
761,030
|
|||||||||||
|
Other
homebuilding
|
158,312
|
154,375
|
202,219
|
287,529
|
802,435
|
|||||||||||
|
Financial
Services
|
10,854
|
11,310
|
13,708
|
18,438
|
54,310
|
|||||||||||
|
Intercompany
elimination
|
(3,116
|
)
|
(3,363
|
)
|
(4,160
|
)
|
(5,638
|
)
|
(16,277
|
)
|
||||||
|
Total
revenue
|
$
|
911,827
|
$
|
976,248
|
$
|
1,293,227
|
$
|
1,814,051
|
$
|
4,995,353
|
||||||
|
BEAZER
HOMES USA, INC.
|
||||||||||||||||
|
SELECTED
HISTORICAL OPERATING AND FINANCIAL DATA
|
||||||||||||||||
|
RECLASSIFIED
TO REFLECT SEGMENT REPORTING
|
||||||||||||||||
|
(Dollars
in thousands)
|
||||||||||||||||
|
Fiscal
Year Ended September 30, 2004
|
||||||||||||||||
|
1st
Qtr
|
|
2nd
Qtr
|
|
3rd
Qtr
|
|
4th
Qtr
|
|
Full
Year
|
||||||||
|
Closings
|
||||||||||||||||
|
West
|
1,137
|
1,315
|
1,444
|
1,564
|
5,460
|
|||||||||||
|
Mid-Atlantic
|
318
|
367
|
409
|
489
|
1,583
|
|||||||||||
|
Florida
|
350
|
328
|
443
|
495
|
1,616
|
|||||||||||
|
Southeast
|
882
|
839
|
865
|
1,247
|
3,833
|
|||||||||||
|
Other
homebuilding
|
921
|
835
|
900
|
1,303
|
3,959
|
|||||||||||
|
Total
closings
|
3,608
|
3,684
|
4,061
|
5,098
|
16,451
|
|||||||||||
|
New
orders, net of cancellations
|
||||||||||||||||
|
West
|
1,394
|
1,750
|
1,710
|
1,469
|
6,323
|
|||||||||||
|
Mid-Atlantic
|
316
|
403
|
427
|
367
|
1,513
|
|||||||||||
|
Florida
|
384
|
511
|
616
|
550
|
2,061
|
|||||||||||
|
Southeast
|
640
|
1,092
|
1,015
|
979
|
3,726
|
|||||||||||
|
Other
homebuilding
|
570
|
1,276
|
1,101
|
911
|
3,858
|
|||||||||||
|
Total
new orders
|
3,304
|
5,032
|
4,869
|
4,276
|
17,481
|
|||||||||||
|
Backlog
units at end of period
|
||||||||||||||||
|
West
|
2,401
|
2,836
|
3,102
|
3,007
|
3,007
|
|||||||||||
|
Mid-Atlantic
|
1,115
|
1,151
|
1,169
|
1,047
|
1,047
|
|||||||||||
|
Florida
|
789
|
972
|
1,145
|
1,200
|
1,200
|
|||||||||||
|
Southeast
|
1,242
|
1,495
|
1,645
|
1,377
|
1,377
|
|||||||||||
|
Other
homebuilding
|
1,575
|
2,016
|
2,217
|
1,825
|
1,825
|
|||||||||||
|
Total
backlog units
|
7,122
|
8,470
|
9,278
|
8,456
|
8,456
|
|||||||||||
|
Homebuilding
Revenue
|
||||||||||||||||
|
West
|
$
|
313,458
|
$
|
357,740
|
$
|
417,610
|
$
|
450,631
|
$
|
1,539,439
|
||||||
|
Mid-Atlantic
|
100,209
|
125,965
|
151,775
|
181,647
|
559,596
|
|||||||||||
|
Florida
|
82,680
|
80,611
|
107,877
|
119,197
|
390,365
|
|||||||||||
|
Southeast
|
136,328
|
140,881
|
150,464
|
206,355
|
634,028
|
|||||||||||
|
Other
homebuilding
|
160,622
|
148,441
|
162,235
|
229,416
|
700,714
|
|||||||||||
|
Total
homebuilding revenue
|
$
|
793,297
|
$
|
853,638
|
$
|
989,961
|
$
|
1,187,246
|
$
|
3,824,142
|
||||||
|
Land
and Lot Sale Revenue
|
||||||||||||||||
|
West
|
$
|
3,779
|
$
|
10,652
|
$
|
-
|
$
|
-
|
$
|
14,431
|
||||||
|
Mid-Atlantic
|
150
|
-
|
-
|
-
|
150
|
|||||||||||
|
Florida
|
-
|
15
|
-
|
-
|
15
|
|||||||||||
|
Southeast
|
877
|
-
|
1,371
|
9,959
|
12,207
|
|||||||||||
|
Other
homebuilding
|
2,929
|
3,164
|
9,199
|
2,607
|
17,899
|
|||||||||||
|
Total
land and lot revenue
|
$
|
7,735
|
$
|
13,831
|
$
|
10,570
|
$
|
12,566
|
$
|
44,702
|
||||||
|
Total
Revenue
|
||||||||||||||||
|
West
|
$
|
317,237
|
$
|
368,392
|
$
|
417,610
|
$
|
450,631
|
$
|
1,553,870
|
||||||
|
Mid-Atlantic
|
100,359
|
125,965
|
151,775
|
181,647
|
559,746
|
|||||||||||
|
Florida
|
82,680
|
80,626
|
107,877
|
119,197
|
390,380
|
|||||||||||
|
Southeast
|
137,205
|
140,881
|
151,835
|
216,314
|
646,235
|
|||||||||||
|
Other
homebuilding
|
163,551
|
151,605
|
171,434
|
232,023
|
718,613
|
|||||||||||
|
Financial
Services
|
12,146
|
12,294
|
11,531
|
15,169
|
51,140
|
|||||||||||
|
Intercompany
elimination
|
(3,070
|
)
|
(3,182
|
)
|
(2,783
|
)
|
(3,840
|
)
|
(12,875
|
)
|
||||||
|
Total
revenue
|
$
|
810,108
|
$
|
876,581
|
$
|
1,009,279
|
$
|
1,211,141
|
$
|
3,907,109
|
||||||
|
BEAZER
HOMES USA, INC.
|
||||||||||||||||
|
SELECTED
HISTORICAL OPERATING AND FINANCIAL DATA
|
||||||||||||||||
|
RECLASSIFIED
TO REFLECT SEGMENT REPORTING
|
||||||||||||||||
|
(Dollars
in thousands)
|
||||||||||||||||
|
Fiscal
Year Ended September 30, 2003
|
||||||||||||||||
|
1st
Qtr
|
|
2nd
Qtr
|
|
3rd
Qtr
|
|
4th
Qtr
|
|
Full
Year
|
||||||||
|
Closings
|
||||||||||||||||
|
West
|
997
|
1,048
|
1,099
|
1,273
|
4,417
|
|||||||||||
|
Mid-Atlantic
|
295
|
233
|
261
|
449
|
1,238
|
|||||||||||
|
Florida
|
322
|
304
|
388
|
450
|
1,464
|
|||||||||||
|
Southeast
|
725
|
757
|
799
|
1,279
|
3,560
|
|||||||||||
|
Other
homebuilding
|
1,143
|
955
|
1,069
|
1,563
|
4,730
|
|||||||||||
|
Total
closings
|
3,482
|
3,297
|
3,616
|
5,014
|
15,409
|
|||||||||||
|
New
orders, net of cancellations
|
||||||||||||||||
|
West
|
898
|
1,174
|
1,374
|
1,336
|
4,782
|
|||||||||||
|
Mid-Atlantic
|
452
|
496
|
434
|
273
|
1,655
|
|||||||||||
|
Florida
|
277
|
415
|
453
|
404
|
1,549
|
|||||||||||
|
Southeast
|
727
|
1,180
|
1,205
|
837
|
3,949
|
|||||||||||
|
Other
homebuilding
|
787
|
1,314
|
1,268
|
1,012
|
4,381
|
|||||||||||
|
Total
new orders
|
3,141
|
4,579
|
4,734
|
3,862
|
16,316
|
|||||||||||
|
Backlog
units at end of period
|
||||||||||||||||
|
West
|
1,680
|
1,806
|
2,081
|
2,144
|
2,144
|
|||||||||||
|
Mid-Atlantic
|
857
|
1,120
|
1,293
|
1,117
|
1,117
|
|||||||||||
|
Florida
|
625
|
736
|
801
|
755
|
755
|
|||||||||||
|
Southeast
|
1,097
|
1,520
|
1,926
|
1,484
|
1,484
|
|||||||||||
|
Other
homebuilding
|
1,919
|
2,278
|
2,477
|
1,926
|
1,926
|
|||||||||||
|
Total
backlog units
|
6,178
|
7,460
|
8,578
|
7,426
|
7,426
|
|||||||||||
|
Homebuilding
Revenue
|
||||||||||||||||
|
West
|
$
|
232,128
|
$
|
238,168
|
$
|
265,337
|
$
|
311,597
|
$
|
1,047,230
|
||||||
|
Mid-Atlantic
|
97,245
|
77,527
|
88,175
|
143,761
|
406,708
|
|||||||||||
|
Florida
|
74,075
|
70,850
|
91,293
|
110,284
|
346,502
|
|||||||||||
|
Southeast
|
107,379
|
114,390
|
123,021
|
190,542
|
535,332
|
|||||||||||
|
Other
homebuilding
|
177,943
|
154,679
|
177,395
|
251,232
|
761,249
|
|||||||||||
|
Total
homebuilding revenue
|
$
|
688,770
|
$
|
655,614
|
$
|
745,221
|
$
|
1,007,416
|
$
|
3,097,021
|
||||||
|
Land
and Lot Sale Revenue
|
||||||||||||||||
|
West
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
|
Mid-Atlantic
|
460
|
-
|
-
|
-
|
460
|
|||||||||||
|
Florida
|
322
|
-
|
8
|
7,019
|
7,349
|
|||||||||||
|
Southeast
|
85
|
241
|
1,666
|
983
|
2,975
|
|||||||||||
|
Other
homebuilding
|
1,628
|
601
|
14,792
|
11,264
|
28,285
|
|||||||||||
|
Total
land and lot revenue
|
$
|
2,495
|
$
|
842
|
$
|
16,466
|
$
|
19,266
|
$
|
39,069
|
||||||
|
Total
Revenue
|
||||||||||||||||
|
West
|
$
|
232,128
|
$
|
238,168
|
$
|
265,337
|
$
|
311,597
|
$
|
1,047,230
|
||||||
|
Mid-Atlantic
|
97,705
|
77,527
|
88,175
|
143,761
|
407,168
|
|||||||||||
|
Florida
|
74,397
|
70,850
|
91,301
|
117,303
|
353,851
|
|||||||||||
|
Southeast
|
107,464
|
114,631
|
124,687
|
191,525
|
538,307
|
|||||||||||
|
Other
homebuilding
|
179,571
|
155,280
|
192,187
|
262,496
|
789,534
|
|||||||||||
|
Financial
Services
|
12,484
|
12,926
|
14,941
|
16,801
|
57,152
|
|||||||||||
|
Intercompany
elimination
|
(3,589
|
)
|
(3,815
|
)
|
(4,870
|
)
|
(3,560
|
)
|
(15,834
|
)
|
||||||
|
Total
revenue
|
$
|
700,160
|
$
|
665,567
|
$
|
771,758
|
$
|
1,039,923
|
$
|
3,177,408
|
||||||