* Q1 loss/shr $0.45 vs. yr-ago loss/shr $2.01
* New contracts up 22 pct
April 28 Single-family homebuilder M/I Homes
Inc (MHO.N) posted a narrower quarterly loss, helped by higher
backlog and a rise in new contracts.
The company posted a first-quarter net loss of $8.3
million, or 45 cents a share, compared to a net loss of $28.1
million, or $2.01 per share, a year earlier.
The quarter included an adjusted pre-tax operating loss of
$4.9 million and $3.2 million of asset impairments.
Revenue rose 24 percent to $119.4 million.
Analysts on average were expecting a loss of 24 cents a
share, on revenue of $115.2 million, according to Thomson
New contracts were up 22 percent. Backlog of homes at
March 31, 2010 had a sales value of $247 million, up from $193
million, a year earlier.
Shares of the company closed at $16.81 Tuesday on the New
York Stock Exchange.
(Reporting by Amulya Nagaraj in Bangalore; Editing by Roshni