By Bill Zeeble
http://stream.publicbroadcasting.net/production/mp3/kera/local-kera-701232.mp3
Dallas, TX – Centex lost 910 million dollars in the 4th quarter, or 7 dollars 36 cents a share. That was roughly 3 times worse than analyst predictions. A year ago, the company earned 200 million dollars. Earlier in the fiscal year, the sub prime mortgage problem devastated the industry, including builders like Centex. CEO Tim Eller called this one of the most difficult housing markets in decades. Still, he said the company managed to sell off some of its land, reduce debt and inventory, and improve cash flow. Eller said the outlook for the housing market remains weak.