Ryland Group Inc. reported late Wednesday that it lost money in its fourth quarter due to inventory valuation adjustments and write-offs.

The Calabasas-based homebuilder said that it swung to a fourth-quarter loss of $202 million (-$4.80 per share), from a profit of $87.2 million ($1.98) from the same period a year earlier.

The company said the latest results included inventory valuation adjustments and write-offs of $243 million as well as an income tax charge of $75.2 million.

Sales for the homebuilder decreased 37 percent to $854 million, which beat Wall Street’s expectation of $820 million, according to Thomson Financial.

Ryland added that homebuilding revenue declined 37 percent to $829 million due to fewer sales as well as a decline in the average home price.

Shares in Ryland were down 10 cents to $31.12 in early trading Thursday on the New York Stock Exchange.