BLOOMFIELD HILLS, Mich., Mar 07, 2011 (BUSINESS WIRE) --
PulteGroup, Inc. (NYSE: PHM) today announced preliminary signups for the two months ended February 28, 2011. The Company is announcing these results in advance of investor meetings scheduled over the next several weeks.
Preliminary net signups for the two months totaled 2,674 homes compared with 2,415 signups in the comparable prior year period. As previously disclosed, a change in the Company's signup process reduced reported first quarter 2010 results by approximately 450 homes. Inclusion of these units would result in a year-over-year decrease of slightly less than 7% in reported two-month signups on an 8% decrease in community count.
"For the first two months of 2011, we have seen good traffic and signup rates in our communities," said Richard J. Dugas, Jr., Chairman, President and CEO. "We recorded 1,206 signups in January and 1,468 signups in February and realized a solid seasonal pickup in traffic which increased 13% from month-to-month. While it is difficult to adjust for the impact of the Federal tax incentive in place last year, we are pleased with overall demand which is running slightly ahead of our internal business plan."
This press release includes "forward-looking statements." These statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other expectations regarding future events. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "may," "can," "could," "might," "will" and similar expressions identify forward-looking statements, including statements related to expected operating and performing results, planned transactions, planned objectives of management, future developments or conditions in the industries in which we participate and other trends, developments and uncertainties that may affect our business in the future.
Such risks, uncertainties and other factors include, among other things: interest rate changes and the availability of mortgage financing; continued volatility in, and potential further deterioration of, the debt and equity markets; competition within the industries in which PulteGroup operates; the availability and cost of land and other raw materials used by PulteGroup in its homebuilding operations; the availability and cost of insurance covering risks associated with PulteGroup's businesses; shortages and the cost of labor; weather related slowdowns; slow growth initiatives and/or local building moratoria; governmental regulation directed at or affecting the housing market, the homebuilding industry or construction activities; uncertainty in the mortgage lending industry, including revisions to underwriting standards and repurchase requirements associated with the sale of mortgage loans; the interpretation of or changes to tax, labor and environmental laws; economic changes nationally or in PulteGroup's local markets, including inflation, deflation, changes in consumer confidence and preferences and the state of the market for homes in general; legal or regulatory proceedings or claims; required accounting changes; terrorist acts and other acts of war; and other factors of national, regional and global scale, including those of a political, economic, business and competitive nature. See PulteGroup's Annual Report on Form 10-K for the fiscal year ended December 31, 2010, and other public filings with the Securities and Exchange Commission (the "SEC") for a further discussion of these and other risks and uncertainties applicable to our businesses.
PulteGroup, Inc. (NYSE: PHM) based in Bloomfield Hills, Mich., is America's premier home building company with operations in 67 markets, 29 states and the District of Columbia. The Company has an unmatched capacity to meet the needs of all buyer segments through its brand portfolio that includes Pulte Homes, Centex and Del Webb. As the most awarded homebuilder in customer satisfaction, the brands of PulteGroup have consistently ranked among the nation's top homebuilders as surveyed by third-party, independent national customer satisfaction studies.
SOURCE: PulteGroup, Inc.
Jim Zeumer, (248) 433-4502
Travis Parman, (248) 433-4533