|
D.R. Horton, Inc., America's Builder, Reports a 52%
Increase in Fourth Quarter Net Income and a Year-End Record $4.6 Billion
Backlog at September 30, 2004
Fourth Quarter Highlights * Net income increased 52% to
$349.6 million * Earnings per diluted share increased 50% to $1.47 per
diluted share * Consolidated revenue increased 23% to $3.5 billion * Net
sales orders increased 17% to $2.8 billion (11,105 homes) Fiscal Year 2004
Highlights * Net income increased 56% to $975.1 million * Earnings per
diluted share increased 51% to $4.11 per diluted share * Consolidated
revenue increased 24% to $10.8 billion * Gross margin on homebuilding
revenue improved 270 basis points to 23.1% * Homes closed increased 21% to
43,567 homes, the first time a builder has closed more than 40,000 homes in
the United States in a fiscal year * Net sales orders increased 24% to $11.4
billion on 45,263 homes sold, the first time a builder has sold more than
45,000 homes in the United States in a fiscal year * Sales contract backlog
increased 25% to $4.6 billion (17,184 homes) * Stockholders' equity
increased 31% to $4.0 billion * Homebuilding debt to total capitalization
(net of cash) improved 110 basis points to 38.9%
ARLINGTON, Texas, Nov 10, 2004 /PRNewswire-FirstCall via COMTEX/ -- D.R.
Horton, Inc. (DHI)
Wednesday (November 10, 2004), reported the highest quarterly and annual
earnings in Company history. Net income for the fourth quarter ended
September 30, 2004 increased 52% to $349.6 million ($1.47 per diluted
share), from $230.7 million ($0.98 per diluted share) for the same quarter
of fiscal 2003. Fourth quarter consolidated revenue increased 23% to $3.5
billion, from $2.9 billion in the fourth quarter of fiscal 2003. Homes
closed increased 17% to 13,452 homes from 11,527 homes in the year ago
quarter.
Full Story:
Click Here
|
|
