Beazer to Restate Results Since '04

Beazer Homes USA, Atlanta, has announced a determination by its Audit Committee that it will be necessary for the company to restate its financial results for fiscal years 2004-2006 and the interim periods of fiscal 2006 and fiscal 2007.The announcement represented the interim findings from the Audit Committee's previously announced independent internal investigation into Beazer's mortgage origination business and certain accounting and financial reporting matters. The homebuilder said it expects the cumulative effect of the restatements to be an overall increase in net income, but with a decrease in net income for fiscal 2006. The company can be found on the Web at http://www.beazer.com.