Publication Date:
Thu, 2012-10-25 10:33
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PulteGroup Inc. announced results for its third quarter ending Sept. 30, 2012. The company reported a net income of $117 million, or $0.33 per share, including a tax benefit of $11 million, or $0.03 per share.
In the third quarter of 2011, the company reported a net loss of $129 million, or $0.34 per share, including a goodwill impairment charge of $241 million, or $0.63 per share, and partially offset by a $73 million, $0.19 per share, tax benefit.
Revenue from home sales totaled $1.2 billion, a 12 percent increase from the prior year. Higher revenue was generated by an increase of average selling price to $279,000, a 6 percent increase.
The company also generated pretax income of $79 million, compared to last year’s pretax loss of $211 million, which included a goodwill impairment charge of $241 million.
Net new orders for the third quarter were 4,544 homes at a value of $1.3 billion. This represents an increase of 27 percent and 43 percent respectively over the previous year.
