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| Centex reports 4Q and FY results US homebuilder Centex reported financial results for its fiscal fourth quarter and fiscal year ended Mar. 31, 2009. Fiscal fourth-quarter revenues were $823 million, 64% lower than the same quarter last year. The loss from continuing operations for the fourth quarter was $406 million, or a loss of $3.26 per diluted share, narrower than last year's fourth-quarter loss of $908 million, or $7.34 per diluted share. Included in the fiscal fourth-quarter loss from continuing operations are $352 million of impairments and land-related charges, including the company's share of joint venture impairments, compared to $362 million of impairments and other land-related charges in last year's fourth quarter. The fiscal fourth quarter's loss also includes $38 million of severance and lease abandonment charges. Fiscal year 2009's revenues were $3.83 billion, 54% lower than the $8.28 billion recorded in fiscal year 2008. The loss from continuing operations for fiscal year 2009 was $1.44 billion, or a loss of $11.58 per diluted share. The operating loss was primarily the result of $1.12 billion of impairments and write-offs recorded during the fiscal year. The 2009 fiscal year loss also includes $81 million of severance and lease abandonment charges. For fiscal year 2008, the loss from continuing operations was $2.66 billion or a loss of $21.71 per diluted share. write your comments about the article :: © 2009 Construction News :: home page |