D.R. Horton, Inc. ( DHI) F1Q2011 Earnings Call Transcript January 27, 2011 10:00 am ET Executives Don Tomnitz – Vice-Chairman, President and CEO Stacey Dwyer – EVP and Treasurer Mike Murray – VP and Controller Bill Wheat – EVP and CFO Analysts Steven East – Ticonderoga Securities Josh Levin – Citigroup Michael Rehaut – JPMorgan Chase Jonathan Ellis – Bank of America/Merrill Lynch Carl Reichardt – Wells Fargo Securities Nishu Sood – Deutsche Bank Joshua Pollard – Goldman Sachs Mike Widner – Stifel Nicolaus John Benda – SIG Dan Oppenheim – Credit Suisse Joel Locker – FBN Securities Alex Barron – Housing Research Center Jade Rahmani – KBW Ken Zener – KeyBanc David Goldberg – UBS Financial Michael Smith – JMP Securities PresentationOperator
Good morning, and welcome to the D.R. Horton, America’s Builder, the largest builder in the United States, first quarter 2011 earnings release conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Don Tomnitz, CEO and President of D.R. Horton. Thank you. Mr. Tomnitz. You may now begin. Don Tomnitz Thank you, and good morning. Joining me this morning are Bill Wheat, Executive Vice President and CFO; and Stacey Dwyer, Executive Vice President and Treasurer; and Mike Murray, Vice President and Controller. Before we get started, Stacey? Stacey Dwyer Some comments made on this call may constitute forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Although D.R. Horton believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. All forward-looking statements are based upon information available to D.R. Horton on the date of this conference call, and D.R. Horton does not undertake any obligation to publicly update or revise any forward-looking statements.