By Steve Gelsi
NEW YORK (MarketWatch) -- M/I Homes Inc. MHO -1.15% said Thursday it swung to a third-quarter profit of $8.3 million, or 42 cents a share, from a loss of $4.72 million, or 25 cents a share, in the year-ago period. The company said the period marked its best quarter in five years. The latest quarter included adjusted income of $6.8 million from operations, a $3 million recovery related to a drywall settlement and $1.3 million of asset impairments. The home builder's revenue increased to $208.9 million, from $141.62 million. Wall Street analysts expected the Columbus, Ohio, home builder to earn 23 cents a share on sales of $204.9 million, according to a survey by FactSet. The company said it's on track to return to full profitability for the year.
