Builder Pulte Reports Profit, Grows Optimistic

Bloomfield Hills, MI, Feb. 2, 2012 -- PulteGroup Inc, the second largest U.S. home builder, returned to a fourth-quarter profit and said it was optimistic about a recovery in the housing market in 2012.

Pulte's net income was $14 million, or $0.04 a share, compared with a net loss of $165 million, or $0.44 a share, a year ago.

Total revenue rose 1% to $1.26 billion.

New orders in the quarter were 3,084 homes, up about 1 percent. Backlog at the end of the quarter was $1.1 billion.