WASHINGTON (dpa-AFX) - Home builder PulteGroup, Inc. (PHM) Thursday said its second-quarter net income increased to $103.3 million or $0.28 per share from $42 million or $0.11 per share in the previous year.
The latest results included a pretax benefit of $27 million, or $0.05 per share, resulting from a legal settlement.
The prior-year results included pretax charges of $88 million, or $0.14 per share, for insurance reserves and office relocation costs.
On average, 19 analysts polled by Thomson Reuters expected earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues were $1.280 billion, compared to $1.286 billion in the previous year. Analysts expected revenues of $1.37 billion.
Home sale revenues were nearly unchanged at $1.24 billion. Revenues reflected a 1 percent increase in average selling price to $332,000, offset by a 1 percent decrease in closings to 3,744 homes.
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