Getting your player ready...
MDC Holdings Inc.’s second- quarter loss narrowed on a larger year-earlier write-down as new orders increased for the first time since 2005.
The housing sector has been slammed by mounting losses in recent quarters as the weak economy and tighter credit standards keep buyers away.
The company posted a loss of $29.6 million, or 64 cents a share, compared with a year- earlier loss of $100.7 million, or $2.18 a share. Revenue dropped 52 percent to $195.3 million. Analysts polled by Thomson Reuters had expected a 58-cent loss and revenue of $181 million.
