Centex Post 1Q Loss

Dallas, TX, July 25, 2007--Centex Corp. reported a loss in first fiscal quarter, the result of charges and fewer home sales. The company posted a loss of $128 million, or $1.05 per share, in the quarter, compared with $160.3 million, or $1.27 per share in the year-ago period.

The loss on operations active in both periods was $131 million, or $1.08 per share, versus a profit of $172 million, or $1.37 per share, in the year-ago period.

The latest period included $193 million in land charges and to write down the value of inventory.

Analysts were anticipating a loss of only $0.16 per share.

The company’s sales were off 31% to $1.94 billion from $2.8 billion last year. Homebuilding revenue slid 32% to $1.8 billion from $2.65 billion, as closings fell 27%. The average selling price was off 5.5%.