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DR Horton Inc. Message Board

  • adspatz adspatz Nov 12, 2013 11:18 AM Flag

    DR Horton sales and earnings jump sharply

    Search for "SEC Live Filings Digest" to find out more.
    DR Horton Inc. (DHI) announced its financial results for the fourth quarter and full fiscal year 2013, reporting sales and earnings that jumped sharply over last year. For the fourth quarter, pre-tax income improved 104% from $99.2M a year ago to $202.8M while net income was $139.5M and $0.40 per share, up from $100.1M and $0.30 per share last year. Revenues increased 40% to $1.8B while home closings also increased 23% to 6,866 homes, up from 5,575 last year. For the full year, revenue jumped 44% from $4.2B to $6.1B while earnings fell from $956.3M and $2.77 per share to $462.7M and $1.33 per share; however the results from last year include a $753.2M non-cash tax benefit. Chairman Donald R. Horton commented that the company performed well over the last year and is superbly positioned to continue strong growth and profitability amidst a recovering housing market.

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