Builder D.R. Horton Says Orders, Sales Up

Dallas, TX, July 25, 2013 -- Homebuilder D.R. Horton reported net income of $146 million, or $0.42 per share, down from from $787.8 million, or $2.22 per share, a year earlier.

Last year's earnings include a $716.7 million tax benefit.

Horton sells homes priced up to $600,000. It  said average selling price rose 15% in the third quarter.

Orders rose 12% to 6,822 homes.

Homebuilding revenue rose to $1.64 billion.