Centex Corp.'s earnings for its fiscal third quarter totaled $15 million, a 16% increase from the same quarter of the previous year. Earnings per share for the quarter were 52 cents.
Centex is a home builder, residential mortgage originator, and general contractor. It completed the sale of its savings and loan, Texas Trust Savings Bank, to Coastal Banc, Houston, in December 1994.
A statement released by the company attributed the earnings increase to improvements in its home construction and financial services operations. But those increases were partly offset by losses in the company's contracting and general construction lines of business.
Revenues from the company's financial services unit in the fiscal third quarter were $33.3 million, a 22% increase from the same quarter of the previous fiscal year.
Centex originated 10,204 loans during the quarter, up from 8,250 originations in the preceding third fiscal quarter.