Friday, 08 February 2008 00:00

I am sure Beazer Homes is concealing some truly dire problems...

This is the second time that they failed to file their quarterly SEC docs on time. The last time they were late, they had to pay their bondholders greenmail in order to get the technical defaults waived. What will it cost this time around? No other company that I know of that had to restate took took two fiscal quarters to do so - and still failed, all the while missing their 10Qs!

"As previously disclosed in the Company's Current Report on Form 8-K dated October 5, 2007 and filed with the SEC on October 11, 2007, the Audit Committee of Beazer Homes USA, Inc. (the "Company") determined that it will be necessary for the Company to restate certain of its previously issued financial statements, including those relating to fiscal years 2005 and 2006 and the interim periods of fiscal 2006 and fiscal 2007. As a result, the Company is delaying the filing of its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2007 until it has completed the restatement process. The Company has also not yet filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2007 or its Annual Report on Form 10-K for the fiscal year ended September 30, 2007. The Company is working expeditiously to complete the restatement process and file these reports as soon as practicable."

Last modified on Friday, 08 February 2008 00:00

2 comments

  • Comment Link Michael Roberts Saturday, 09 February 2008 22:13 posted by Michael Roberts

    "The Company is working expeditiously" :D
    That's hilarious!

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  • Comment Link eh Saturday, 09 February 2008 09:11 posted by eh

    Their stock price seems to reflect that as well.

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