ATLANTA -- Beazer Homes USA, Inc. posted net income of $11.9 million in the fourth quarter. For the full year fiscal 2013, the Company made significant progress on its objective to return to sustainable profitability. The Company's net loss for fiscal 2013 was $33.9 million, compared to a loss of $145.3 million for fiscal 2012. New home orders were up 2.6% despite an 18.5% reduction in average community count, while full year homebuilding gross margins increased to 20.0%. And, adjusted EBITDA for the full year was significantly improved at $86.3 million for fiscal 2013, up from $21.8 million last year.
"We finished 2013 with solidly improved operating and financial results," said Allan Merrill, CEO of Beazer Homes. "In the fourth quarter, we reported our first net profit from operations in many years, realizing the benefits of our path-to-profitability strategies and the impact of an improved homebuilding market. For the full year, with continued improvements in average sales price, sales per community per month and homebuilding gross margins, we achieved adjusted EBITDA that was more than triple the amount reported for fiscal 2012.
"With this positive momentum heading into fiscal 2014 as well as our continued belief that new home affordability and inventory levels will remain favorable, we expect to report a full year of profitability for fiscal 2014."