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Centex Corp


Centex Corp is a publicly traded company having a good stock performance result. Centex Corp is a fortune 500 stock listed company trading under CTX. The company was founded in 1950 and is based in Dallas, Texas. Centex operates in major U.S. markets in 25 states and delivered more than 33,000 homes in the United States in its most recent fiscal year ended March 31, 2005.
 
Centex Corporation provides home building, financial services, and construction services. Its Home Building segment involves in the purchase and development of land or lots, as well as in the construction and sale of single family homes, and land or lots. The company’s Financial Services segment provides home financing, sub prime home equity lending, and the sale of title insurance and other various insurance coverages. These activities include mortgage origination, servicing, and other related services for homes sold by the company and others. 
 
Centex’s Construction Services segment constructs buildings and facilities for both private and government interests, including educational institutions, hospitals, military housing, correctional institutions, airport facilities, office buildings, hotels and resorts, and sports facilities. Further, the company engages in home services operations and investment real estate operations. Centex primarily operates in the United States and the United Kingdom.
 
For the third quarter of fiscal year 2006 ended Dec. 31, the company reported record results  revenues for the quarter grew 25 percent to 3.74 billion dollars and earnings from continuing operations grew 30 percent to 329 million dollars. Centex reported third quarter earnings per diluted share from continuing operations of 2.52 dollars, up 38 percent.
 
Centex Corporation announced that its Board of Directors has increased the company's share repurchase authorization by an additional 5,000,000 shares. Centex also announced that it will be entering into a Rule 10b5-1 share repurchase plan with a broker to facilitate the repurchase of shares of its common stock under the new share repurchase authorization.
 
Under this particular plan, beginning Jan. 3, 2006, Centex will repurchase up to 1,500,000 shares of its common stock. The plan expires upon the earliest of Jan. 31, 2006, the purchase of all the shares covered by the plan, or certain other specified events. There is no specific timetable for the purchase of the remaining shares. Since becoming publicly held in 1969, Centex has never reported a quarterly or annual loss or a major write-off.
 

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