Fort Worth, TX, January 20--Homebuilder D.R. Horton Inc. reported first-quarter net income of $241 million, or $1.01 per share, compared with net income of $185.6 million, or $0.78 per share a year earlier.
Analysts were expecting the company to earn $0.93 per share.
Sales were up 14 percent to $2.5 billion.
D.R. Horton ended the quarter with a $4.8 billion backlog of homes, up 34 percent.
The company forecast fiscal second-quarter earnings in the range of $1.00 to $1.05 per share. For the full year, the company said it expects earnings to be in the range of $4.75 to $4.90 per share, up from its prior forecast of $4.50 to $4.70 per share.
Analysts, on average, expect D.R. Horton to earn $1.01 per share in the fiscal second quarter and $4.76 per share for the year.
