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| Pulte Homes announces fourth-quarter and full-year 2006 results Pulte Homes announced financial results for its fourth quarter and year ended December 31, 2006. For the quarter, the Company reported a loss from continuing operations of $8.3 million, or $0.03 per diluted share, compared with $532 million of income from continuing operations for the prior year fourth quarter, or $2.03 per diluted share. Consolidated revenues for the quarter were $4.4 billion, a decline of 14% from prior year revenues of $5.1 billion. For the full year 2006, Pulte Homes reported consolidated revenues of $14.3 billion, a decrease of 3% from the prior year. Full year earnings from continuing operations were $2.67 per diluted share, compared with $5.47 in the prior year. Net new home orders for the fourth quarter were 6,446 homes, valued at $2.1 billion, which represent declines of 34% and 38%, respectively, from prior year fourth-quarter results. Pulte Homes' backlog as of December 31, 2006, was valued at $3.6 billion (10,255 homes), compared with a value of $6.3 billion (17,817 homes) last year. "Our earnings visibility going forward remains limited due to rapidly changing market conditions and uncertainty regarding possible future land- related charges", said Richard J. Dugas, Jr., President and CEO of Pulte Homes. "For the first quarter of 2007, we are providing earnings guidance in the range from break-even to a loss of $.10 per diluted share, exclusive of any additional land-related charges. Given this fluid environment, we are not in a position at this time to provide full-year guidance for 2007." write your comments about the article :: © 2007 Construction News :: home page |