(Reuters) - The company reported a first-quarter net loss of $66 million, or $1.11 a share, compared with a profit of $55 million, or 89 cents, in the year-ago quarter. Revenue for the quarter was down 4 percent to $588.2 million primarily on lower land sales.
The Florida-based homebuilder is in trouble with lenders for its Transeastern joint venture in the wake of a slump in the housing market in the United States.
Read more at Reuters.com Market News
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