Printer Friendly

PHM CORPORATION CLARIFIES FIRST-QUARTER EARNINGS STATEMENT

 PHM CORPORATION CLARIFIES FIRST-QUARTER EARNINGS STATEMENT
 BLOOMFIELD HILLS, Mich., April 14 /PRNewswire/ -- The following was


released today by PHM Corporation (NYSE: PHM):
 PHM Corporation believes incomplete and inaccurate reports today of its press release have led to a drop in its stock price on substantial volume. The following should clarify previously reported information.
 PHM CORPORATION
 ANALYSIS OF PRE-TAX INCOME (LOSS)
 For The Quarter Ended
 March 31,
 Variance
 1991 1992 Fav(Unfav)
 -------- -------- --------
 ($000's omitted, except per-share data)
 Pulte Home Corporation
 Homebuilding $(2,118) $2,425 $4,543
 Financial Services
 Heights $ 1,874 $11,175(a) $9,301
 ICM (1,685) (1,811) (126)
 PFCI 4,640 2,599 (2,041)
 ----- ------ -----
 Total Financial Services $4,829 $11,963 $7,134
 Corporate (2,427) (4,241)(b) (1,814)
 PHM Consolidated Income
 Before Income Taxes $284 $10,147 $9,863
 Income Taxes --- (650) (650)
 ----- ------ -----
 PHM Net Income $284 $9,497 $9,213
 ----- ------ ------
 Net Income Per Share $.01 $.37 $.36
 (a) -- Includes $9.8 million gain from sale of mortgage securities.
 (b) -- Includes $3.3 million of minority interest and tax sharing related to the sale of securities referenced above.
 -0- 4/14/92 AA DE004
 /CONTACT: William J. Crombie of PHM Corporation, 313-647-2750/
 (PHM) CO: PHM Corporation ST: Michigan IN: CST SU: ERN


KK-ML -- DE004A -- 8365 04/14/92 17:05 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 14, 1992
Words:219
Previous Article:MADISON GAS AND ELECTRIC COMPANY ANNOUNCES OFFERING
Next Article:LINEAR TECHNOLOGY REPORTS RECORD SALES AND PROFITS


Related Articles
PHM CORPORATION RELEASES 1991 FOURTH-QUARTER EARNINGS
PHM CORPORATION RELEASES 1992 FIRST-QUARTER DIVIDEND
PHM CORPORATION RELEASES 1992 FIRST-QUARTER EARNINGS
PHM CORPORATION RELEASES 1992 SECOND-QUARTER EARNINGS
PHM CORPORATION REPORTS RECORD THIRD QUARTER NET EARNINGS, EARNINGS PER SHARE AND HOMEBUILDING BACKLOG; CITES GAINS IN MARKET SHARE
PHM CORPORATION REPORTS RECORD EARNINGS FOR THE YEAR ENDED DECEMBER 31, 1992.
PHM CORPORATION REPORTS INCREASED EARNINGS FOR THE FIRST QUARTER ENDED MARCH 31, 1993
PULTE CORPORATION REPORTS RECORD SECOND QUARTER EARNINGS
PULTE CORPORATION REPORTS THIRD QUARTER EARNINGS
PULTE SUMMARIZES ESTIMATED FIRST QUARTER OUTLOOK AT ANNUAL CONFERENCE

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters