Centex New Home Starts Up 1,000 Over Prediction

DALLAS-Centex Corp., a leading homebuilder nationwide, is finding a stronger market than anticipated for this fiscal year, ending March 31, 2001. The Dallas-based builder expects to deliver 1,000 more homes – 20,500 – than projected. The additional homes will be completed in the third and fourth quarters.

According to Centex, the increase could add 25 cents to 50 cents per share to the current Wall Street estimate for fiscal 2001 of about $3.75.Centex carries a top-ranking among home builders, non-bank-affiliated retail mortgage lenders and general building contractors. It also has an investment real estate operation, owning about 65% of a publicly held construction products company.