UPDATE 1-Beazer Homes posts wider-than-expected loss as costs rise
* Q2 adj shr loss $0.51 vs est $0.43
* Q2 rev $191.6 mln vs est $192.5 mln
* Construction, land sales costs up 56 pct in the quarter
May 2 (Reuters) - Diversified homebuilder Beazer Homes USA posted a wider-than-expected quarterly loss on higher construction and land sales costs, and said it remains cautiously hopeful on the prospects of a sustained housing market recovery.
The company's second-quarter net loss from continuing operations narrowed to $37.9 million, or 48 cents per share, from $53.8 million, or 73 cents per share, a year earlier.
Excluding items, the company posted a net loss of 51 cents per share, that missed analysts' estimates of a loss of 43 cents per share, according to Thomson Reuters I/B/E/S.
Home construction and land sales costs rose about 56 percent to $170.3 million during the quarter.
Revenue rose about 52 percent to $191.6 million, but that was below analysts' expectations of $192.5 million.
Total home closings on a continuing operations basis were up about 45 percent to 845 homes, the company said in a statement.
Net new home orders increased 29 percent.
Beazer shares closed at $3.10 on the New York Stock Exchange on Tuesday.
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