Industry News

Home builder sees 51 percent income growth in 2005

Average selling price of Pulte homes rises 10 percent

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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...