Builder Horton Swings to Loss in Quarter

Dallas, TX, Jan. 27, 2011 -- D.R. Horton Inc., the second-largest U.S. homebuilder by revenue, reported a net loss of $20.4 million, or $0.06 a share, for the quarter ended Dec. 31 compared with a profit of $192 million, or $0.56 a year earlier.

Revenue from homebuilding fell to $767 million from $1.1 billion a year earlier as the number of homes sold fell 34 percent to 3,637, D.R. Horton said in a press release.

D.R. Horton’s orders for new homes also fell to 3,363 from 4,037.

D.R. Horton Chairman Donald R. Horton said he expects sales to improve later this year.

“While our year-over-year comparisons for net sales orders are very difficult for the next two quarters, we do expect to see an increase from the sales levels we achieved in the December quarter,” he said in the statement.