Tuesday, January 16, 2007

CENTEX eps minus 2$ / almost $500 million "adjustments"

more upbeat news from the housing/builder front....../ mehr tolle neuigkeiten......

almost half a billion $ in "adjustments" . looks like they are facing reality and have stopped smoking......... looks like wall street was expecting this kind of "good news". despite numerous warning from centex during the last 6 month......... maybe one lonely analysts has expected even greater write offs and upgrades the stock so that ctx has a reason to jump.......:-)

nur ne halbe mrd $ in "anpassungen" sieht so aus als wenn ctx aus ihrem rausch aufgewacht ist.....wenn man sich den chart anseiht kann man schön sehen wie wall street diese news bereits abgefeiert hat. und das trotz diverser warnungen in den letzten monaten. aber evtl. findet sich ja auch heute ein analyt der noch höhere abschreibungen erwartet hat und der aktie daher den dringend benötigten schub erhält........ :-)

and with "strong" march 2006 numbers http://finance.yahoo.com/q/cf?s=CTX&annual
Total Cash Flow From Operating Activities Minus $933,139

Change In Cash and Cash Equivalents Minus $454,631

nobody has to be nervous........ the march 07 numbers should be quite interesting. und mit den o.g. "starken" daten braucht auch niemand nervös zu werden. ...... die zahlen ende märz dürften aufschlußreich werden.

Net sales (orders) for the quarter were 6,139, a decrease of 24 percent from last year's third quarter.

The company is in the process of completing its quarterly land inventory valuation and option analysis. The company has cancelled or intends not to exercise land option contracts related to approximately 37,000 controlled lots given the decline of housing activity in many of its markets.

Consequently, the company currently expects option deposit and pre-acquisition walk-away costs to be approximately $150 million this quarter.

Additionally, the company plans to record land valuation adjustments of approximately $300 million, about one-third of which represents the company's share of such amounts in joint ventures

Furthermore, in the December quarter the company is increasing its provision for taxes by approximately $60 million in connection with its previously-disclosed ongoing federal tax audit.

Taking into account the option deposit and walk-away costs, land valuation adjustments and the tax provision adjustment, the company expects to report a loss from continuing operations of approximately $2.00 per fully diluted share for the third quarter.

disclosure: short ctx

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