Friday, May 4, 2007

Hovananian (HOV) Hootenanny

Should we be surprised by this?:Hovnanian Expects Larger Loss in 2Q. What I find intriguing is that after a year of various tricks to shore up the bottom line, including land sales and delayed writeoffs, along with traditional cuts in labor and other overhead - the tricks are running out. Expect more downward revisions to results from other homebuilders.

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