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Pulte Homes




Pulte Homes was founded in 1956 and is headquartered in Bloomfield Hills, Michigan. It’s a publicly traded company having a good stock performance result. Pulte Homes is a fortune 500 stock listed company trading under PHM.
 
Through its subsidiaries, the company engages in the homebuilding and financial services business in the United States. It operates through two segments, Homebuilding and Financial Services. In 2005, the company delivered 45,630 homes in the U.S. and generated combined revenues of 14.7 billion dollars. During its 56-year history, the company has constructed more than 450,000 homes. Mr. Dugas has served as President and Chief Executive Officer of Pulte Homes, Inc. since July 1, 2003.

Consolidated revenues for 2005 were a record 14.7 billion dollars, up 28percent from 11.5 billion dollars in 2004. Revenues from homebuilding settlements for 2005 increased 30percent to 14.4 billion dollars. Higher revenues for the period resulted from a 10percent increase in average selling price to 315,000 dollars combined with an 18percent increase in the number of homes closed which totaled a record 45,630 homes. The increase in average selling price for the period reflects a combination of price increases and a favorable change in the mix of product closed during the period. Homebuilding pretax income for the year increased 41percent to a record 2.3 billion dollars, compared with prior year pretax income of 1.6 billion dollars. Gross margins from home sales for the period increased 80 basis points to 23.4percent, while selling, general & administrative costs as a percentage of settlement revenues dropped approximately 110 basis points to 7.7percent. Land sales for the year generated 18.2 million dollars in pretax income, compared with 99.8 million dollars in 2004.

For 2005, Pulte's financial services operations reported pretax income of 70.6 million dollars, an increase of 49percent over prior year pretax income of 47.4 million dollars. Higher homebuilding volumes, combined with a 140 basis point increase in capture rate to 89.2percent, helped drive loan originations for the period to 42,994 loans, representing 8.5 billion dollars in principal value. Through the scale, scope and diversification advantages Pulte maintains, Pulte Homes see occasion for further growth in 2006. Pulte Homes carry on targeting 2006 earnings growth of approximately 10percent to 15percent, which is in-line with current guidance for earnings of 6.00 dollars to 6.25 dollars per share.

Pulte Homes carried on with the objective to become a largest homebuilder company among the America's largest homebuilding companies.

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