Builder D.R. Horton Swings to Profit

Fort Worth, TX, Jan. 27, 2012 -- Builder D.R. Horton reported net income for its first fiscal quarter ended December 31 of $27.7 million, or $0.09 per share, compared to a net loss of $20.4 million, or $0.06 per diluted share, for the quarter the previous year.

Homebuilding revenue for the first quarter totaled $885.6 million, compared to $767.0 million in the year ago quarter.

Homes closed in the quarter totaled 4,118, compared to 3,637 homes in the year ago quarter.

Net sales orders totaled 3,794 homes ($823.2 million), compared to 3,363 homes ($705.6 million) in the year ago quarter.

The Company’s sales order backlog of homes under contract at December 31, 2011 was 4,530 homes ($975.0 million), compared to 3,854 homes ($795.4 million) at December 31, 2010.