D.R. Horton beats Q3 estimates on $28.7 million in net income

D.R. Horton reported net income for its third fiscal quarter ended June 30, 2011, of $28.7 million. Net income for the same quarter of fiscal 2010 was $50.5 million.

By Mary Beth Nevulis, HousingZone Contributing Editor | July 29, 2011
d.r. horton, builders, home builders

On Tuesday, D.R. Horton reported net income for its third fiscal quarter ended June 30, 2011, of $28.7 million, or $0.09 per diluted share. Net income for the same quarter of fiscal 2010 was $50.5 million, or $0.16 per diluted share.

Homebuilding revenue for the third quarter of fiscal 2011 totaled $975.4 million, compared to $1.4 billion in the same quarter of fiscal year 2010. Homes closed in the quarter totaled 4,555 homes, compared to 6,805 homes in the same quarter of fiscal 2010.

Net sales orders for the third quarter ended June 30, 2011 totaled 4,874 homes ($1.1 billion), compared to 4,921 homes ($1.0 billion) in the same quarter of fiscal 2010.

For more information: www.drhorton.com/Company-Information/Investors/News.aspx

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