Thursday, July 12, 2007

UPDATE 1-M/I Homes posts lower Q2 orders, withdraws yearly view

(Reuters) - Homes delivered fell 24 percent to 755 and new contracts
fell 10 percent to 688 for the quarter, the single-family
homebuilder said in a statement, which was also hurt by excess
inventory of new and used homes and weaker demand.




The company estimates that it will record pretax asset
impairment and write-offs of $60 million to $70 million in the
quarter.


Read more at Reuters.com Bonds News

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