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| Pulte Homes announces preliminary results for Q4 2006 Pulte Homes announced its preliminary and unaudited financial results for its fourth quarter 2006. The company expects fourth quarter results to be in the range of a loss of $.05 to earnings of $.05 per diluted share from continuing operations. Pulte Homes had previously issued earnings guidance in the range of $.30 to $.70 per diluted share, guiding to the lower end of the range in its earnings conference call for the third quarter. Pulte Homes closed 12,566 homes during the fourth quarter of 2006, a decline of 20% from the fourth quarter of 2005. Net new orders for the quarter were 6,446 homes, a 34% decrease from last year's fourth quarter. For the full year 2006, home closings were 41,487, down 9% compared with 2005. Net new orders for the full year 2006 decreased 29% from the prior year to 33,925 homes. Unit backlog of 10,255 as of the end of the fourth quarter was valued at $3.6 billion. Pulte Homes anticipates that the impairments and land-related charges will be in the range of $330 million to $350 million for the fourth quarter, or $.83 to $.88 per diluted share. The Company previously issued guidance of $150 million for impairments and land-related charges. The net debt-to-total capitalization ratio for the company was approximately 31% at year-end, with a cash position of approximately $550 million, and no debt outstanding on a revolving credit facility. Pulte Homes will release its fourth quarter and full year 2006 earnings results following market close on Wednesday, January 31, 2007. The Company will webcast its conference call to discuss the fourth quarter results on Thursday, February 1, 2007 at 8:30 a.m. Eastern Time. write your comments about the article :: © 2007 Construction News :: home page |