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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (55004)	10/27/2004 11:53:21 PM
From: Snowshoe	Read Replies (1) of 74559

Centex raises FY06 earnings estimate marketwatch.com By John Spence, CBS MarketWatch.com Last Update: 5:01 PM ET Oct. 27, 2004 BOSTON (CBS.MW) -- Centex Corp. said Wednesday it expects net earnings of $8.75 to $9.25 for the year ending March 31, 2006, or about 20 to 25 percent above its projected earnings for the current. "Our neighborhood-based growth model and increasing profitability at the homebuilding operations, coupled with the strong positioning of our financial services businesses, enables us to forecast our tenth consecutive year of double-digit earnings increases," said Centex Chairman and Chief Executive Tim Eller. Centex (CTX: news, chart, profile) said Tuesday second-quarter earnings were up 13 percent to $210 million, or $1.61 a share, from $210 million, or $1.51 a share, during the same period last year. The Dallas homebuilder's results beat the average estimate of $1.59 a share as measured by Thomson First Call. Centex shares gained 1.7 percent to close $51.51 on Wednesday.

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