Pulte in black for 1st time in 3 years

PulteGroup Inc., the nation's largest homebuilder, posted Wednesday a quarterly profit for the first time in more than three years, as Americans rushed to complete their purchases in time to qualify for federal tax credits. Its acquisition of rival Centex Corp. last year was key, bolstering its inventory of homes geared for first-time buyers. "At this point, we still feel that we can be profitable for the year, but given the pullback in demand, it's going to be a steeper hill than we thought," Dugas said.

Click here to view this article from its source.