Summary Box: PulteGroup narrows 3Q loss

AP News
Posted: Oct 27, 2011 2:04 PM
Summary Box: PulteGroup narrows 3Q loss

SMALLER LOSS: Homebuilder PulteGroup Inc. reported a smaller loss in the third quarter on lower charges, a higher tax benefit and improved revenue. Excluding the one-time charges and tax benefit, the builder would have posted a profit of 11 cents a share.

SALES MIXED: Home closings rose 9 percent from a year earlier to 4,198 homes. But net new home orders were flat at 3,564 homes.

OUTLOOK: Management says it expects business conditions to be relatively stable through the end of this year, positioning the company to turn in an operating profit in the fourth quarter.