Pulte Q3 net jumps 60 percent
marketwatch.com
By CBS MarketWatch
Last Update: 8:55 AM ET Oct. 26, 2004
Pulte said its third-quarter income was $270 million, or $2.07 a share, up from $168.9 million, or $1.34 a share, in the same period last year.
Excluding a $10.8 million one-time gain from settling tax issues, the company's profit from operations rose to $259.2 million, or $1.99 a share, from $161 million, or $1.28 a share. Revenue rose to $2.97 billion from $2.40 billion. Analysts polled by Thomson First Call were expecting a profit of $2 a share on revenue of $3.025 billion.
For full-year 2004, Pulte reiterated its earnings forecast of $7.40 a share to $7.70 a share, and projects a 2005 profit of $9 to $9.50 a share.
The stock (PHM: news, chart, profile) rose $4.04, or 8.5 percent, to close at $51.50.
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