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NovaStar Posts $54.5 Million Loss in Second Quarter 

Aug 10, 2007By

NovaStar Financial, Inc. posted its second-quarter results late yesterday, and as expected, results showed a big loss. The company reported a net loss of $54.5 million during the second quarter, compared to $33.1 million in earnings during the year-ago period. Pre-tax writedowns totalled $116.9 million, including $73.3 in credit loss provisions.

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