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Pulte and Centex Homes Losses Narrow 

May 05, 2009By

Pulte Homes [stock PHM][/stock] just reported its Q109 loss narrowed to $514.8m, or $2.02 a share, compared to a loss of $696.1m, or $2.75 a share, from Q108. The quarterly loss includes $410.2m of pre-tax charges related to inventory impairments and other land-related charges. Despite the positive news — and dismissing the fact that current economic conditions mean narrowing losses are a good thing — revenue at the Michigan home builder fell by 3X and new orders also continue downward on a year-by-year basis.

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