WASHINGTON (dpa-AFX) - Home builder PulteGroup Inc. (PHM) reported a narrower first-quarter net loss of $12 million, or $0.03 per share compared with $40 million, or $0.10 per share loss last year. Latest quarter's reported net loss includes $6 million of land related charges which were offset by $6 million of land-sale gains, the company added.
Total revenues advanced to $881.04 million from $805.20 million in the comparable period, while 18 analysts estimated revenues of $836.61 million for the quarter. Home sale revenues were $814 million, up 4% from $782 million in the prior year. Higher revenue for the quarter reflects a 5% growth in average selling price to $261,000, partially offset by a 1% decrease in closings to 3,117 homes, the company added.
Further, PulteGroup said it remains on track for full-year profitability.
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