Business Services Industry
Bloomfield Hills, Mich., Home Builder Reports 37 Percent Rise in Profits.
Knight Ridder/Tribune Business News, October, 2001
By Daniel G. Fricker, Detroit Free Press Knight Ridder/Tribune Business News
Oct. 24--Pulte Homes Inc., the nation's largest home builder, reported Tuesday that profits during the three months ending Sept. 30 rose 37 percent to $83.2 million or $1.53 per share.
That compares to third-quarter earnings in 2000 of $60.9 million or $1.47 per share.
The earnings included two months of operations with Del Webb Corp. Pulte, based in Bloomfield Hills, acquired Del Webb for $800 million in stock on July 31, increasing the number of shares 31 percent, to 54.5 million.
Pulte's stock price closed Tuesday at $33 per share, down 18 cents.
Pulte is laying off 400 Del Webb employees, including about 120 at the headquarters in Phoenix....
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