(Reuters) - Fiscal second-quarter homebuilding revenue fell 19 percent to about $1.17 billion for the period ended April 30, according to preliminary results. The company is slated to release its official results on May 24.
With slack demand, the value of lots and homes built without a buyer have fallen. The company expects to take a second-quarter charge of between $90 million and $130 million to account for the lowered value, but still expects to report a profit.
Read more at Reuters.com Business News
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