Builder Horton Says Profit More Than Doubled

Fort Worth, TX, Jan. 29, 2013 -- Home builder D.R. Horton said its quarterly profit more than doubled amid higher closings and orders.

Horton, the nation's largest builder by annual closings, said it recorded a profit of $66.3 million, or $0.20 a share, compared with a year-earlier profit of $27.7 million, or $0.09 a share.

Horton said closings increased 26% from a year earlier, while orders rose 39%.

The sales order backlog of homes under contract was up 62% to 7,317 homes.