Pulte Homes Left Out in the Cold; Posts Loss

BLOOMFIELD HILLS, MICH. ( TheStreet) -- Pulte Homes ( PHM) didn't get the memo that the housing market is about to make a comeback.

The home builder widened its loss in the second quarter to $189.5 million, or 74 cents a share, compared with a loss of $158.4 million, or 63 cents, in the year-ago period. Analysts expected a loss of 57 cents.

Revenue more than halved to $679 million from $1.63 billion in the year prior.

Shares of Pulte ended the day up 3% to $11.76, but fell 1% in after-market trading.

In contrast to Pulte's troubles, Rival Centex ( CTX) swung to a first-quarter profit, even as revenue was nearly halved.

Likewise, earlier today, the Commerce Department announced that construction spending increased 0.3% in June, surpassing analysts' forecast.

-- Reported by Jeanine Poggi in New York.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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