Summary Box: Hovnanian Enterprises 4Q loss narrows (AP)

HOMING IN: Hovnanian Enterprises Inc. reported a smaller loss in the fiscal fourth quarter, aided by lower expenses and charges. The homebuilder lost 90 cents a share on revenue of $341.6 million.

MORE SIGNINGS: New home contracts rose 3 percent, while home deliveries fell 3 percent. Its backlog of homes under contract increased 19 percent.

OUTLOOK: Management says it isn't projecting any improvement in the housing market for the next two years, but believes it can boost its revenue and move toward profitability by selling homes from newer communities, which it plans to add next year.

Source: http://us.rd.yahoo.com/dailynews/rss/earnings/*http%3A//news.yahoo.com/s/ap/20111215/ap_on_bi_ge/us_earns_hovnanian_summary_box

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