This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

D.R. Horton, Inc., America’s Builder, Reports Fiscal 2012 Second Quarter Results And Declares Quarterly Dividend

D.R. Horton, Inc. (NYSE: DHI), America’s Builder, today reported that net income for its second fiscal quarter ended March 31, 2012 increased 46% to $40.6 million, or $0.13 per diluted share, from $27.8 million, or $0.09 per diluted share in the same quarter of fiscal 2011. Homebuilding revenue for the second quarter of fiscal 2012 increased 28% to $935.6 million from $733.1 million in the same quarter of 2011. Homes closed in the quarter increased 21% to 4,240, compared to 3,516 homes in the year ago quarter.

For the six months ended March 31, 2012, net income increased to $68.3 million, or $0.21 per diluted share, from $7.4 million, or $0.02 per diluted share, in the same period of fiscal 2011. Homebuilding revenue for the six months ended March 31, 2012 increased 21% to $1.8 billion from $1.5 billion in the first six months of fiscal 2011. Homes closed in the six-month period increased 17% to 8,358 homes, compared to 7,153 homes in the same period of fiscal 2011.

Net sales orders for the second quarter ended March 31, 2012 increased 19% to 5,899 homes from 4,943 homes in the year ago quarter and the value of net sales orders increased 28% to $1.3 billion from $1.0 billion. The Company’s cancellation rate (cancelled sales orders divided by gross sales orders) for the second quarter of fiscal 2012 was 22%. Net sales orders for the first six months of fiscal 2012 increased 17% to 9,693 homes from 8,306 homes in the first six months of fiscal 2011, and the value of net sales orders increased 23% to $2.1 billion from $1.7 billion.

The Company’s sales order backlog of homes under contract at March 31, 2012 increased 17% to 6,189 homes from 5,281 homes at March 31, 2011. The value of the backlog increased 25% to $1.4 billion at March 31, 2012 from $1.1 billion a year ago.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,086.45 +48.48 0.27%
S&P 500 2,112.07 +3.15 0.15%
NASDAQ 5,066.5230 +6.2770 0.12%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs