Countrywide Raises Outlook for Year

Countrywide Financial Corp. increased the range of its 2005 profit outlook on expectations of resilient demand for home loans, even though interest rates have risen slightly.

The upward revision comes after the company said last week that it was adjusting accounting methods related to how it booked sales of certain debt securities in 2004. The financial services company now expects earnings per share of $3.45 to $4.45, up from the $3.25 to $4.25 forecast earlier in February.

Countrywide shares fell 21 cents to $34.75 on the New York Stock Exchange.