Industry News

Home builder sees 51 percent income growth in 2005

Average selling price of Pulte homes rises 10 percent
Published on Feb 2, 2006

Pulte Homes Inc. had record consolidated revenues of $14.7 billion in 2005, a 28 percent increase over 2004, the company reported this week, and net income in 2005 increased 51.2 percent. Fourth-quarter 2005 net income increased 44.6 percent over fourth-quarter 2004 net income, to $574.5 million, Pulte also announced in its quarterly earnings report. Full-year earnings from continuing operations in 2005 gained 43 percent to $5.47 per diluted share, compared with $3.82 in the prior year. Also, Pulte announced: – Fourth-quarter earnings from continuing operations increased 28 percent to a record $2.03 per diluted share, compared with prior year earnings from continuing operations of $1.59 per diluted share; – Fourth-quarter home settlement revenues climb 28 percent to a record $5 billion and consolidated fourth quarter revenues for the company increased 24 percent to $5.1 billion; – Net new orders for the quarter climb 24 percent to $3.3 billion and backlog value incr...

Comments