FORT WORTH, Texas, Oct. 11 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI), America's Builder, Tuesday (October 11, 2005) reported that
organic net sales orders for the quarter ended September 30, 2005 increased
33% to a fourth-quarter record $3.8 billion (13,950 homes), compared to
$2.8 billion (11,105 homes) for the same quarter of fiscal year 2004. Organic
net sales orders for fiscal year 2005 increased 28% to a record $14.6 billion
(53,232 homes), compared to $11.4 billion (45,263 homes) for fiscal year 2004.
Donald R. Horton, Chairman of the Board, said, "For the first time in
history, a homebuilder has sold more than 53,000 homes and closed more than
50,000 homes in the United States in a fiscal year. We are extremely pleased
that all of our regions recorded double-digit increases in both sales dollars
and units for the quarter. The excellent sales results in our fourth quarter,
combined with our record year-end backlog, position the Company for a strong
start to another record year in fiscal 2006."
D.R. Horton, Inc., America's Builder, is the largest homebuilder in the
United States, delivering more than 50,000 homes in its fiscal year ended
September 30, 2005. Founded in 1978 in Fort Worth, Texas, D.R. Horton has
expanded its presence to include 71 markets in 23 states in the Midwest, Mid-
Atlantic, Southeast, Southwest and West regions of the United States. The
Company is engaged in the construction and sale of high quality homes with
sales prices ranging from $80,000 to over $900,000. D.R. Horton also provides
mortgage financing and title services for homebuyers through its mortgage and
Portions of this document may constitute "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995. Although
D.R. Horton believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially different.
All forward-looking statements are based upon information available to D.R.
Horton on the date this release was issued. D.R. Horton does not undertake
any obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. The
forward-looking statement in this release relates to our fourth quarter sales
and record sales backlog positioning the Company for a strong start to another
record year in fiscal year 2006. Factors that may cause the actual results to
be materially different from the future results expressed by the forward-
looking statements include, but are not limited to: changes in general
economic, real estate and business conditions; changes in interest rates and
the availability of mortgage financing; warranty and product liability claims;
our substantial debt; governmental regulations and environmental matters;
competitive conditions within the industry; the availability of capital to the
Company on favorable terms; and the Company's ability to integrate
acquisitions and successfully effect the cost savings, operating efficiencies
and revenue enhancements that are believed available and otherwise to
successfully effect its other growth strategies. Additional information about
issues that could lead to material changes in performance is contained in D.R.
Horton's annual report on Form 10-K and most recent quarterly reports on Form
10-Q, which are filed with the Securities and Exchange Commission.
WEBSITE ADDRESS: http://www.DRHORTON.com
D.R. HORTON, INC.
($'s in millions)
NET SALES ORDERS
Three months ended September 30,
Units $'s Units $'s
Mid-Atlantic 1,136 $269.1 1,319 $338.0
Midwest 644 172.0 835 217.7
Southeast 1,631 365.0 2,102 550.5
Southwest 4,469 786.6 5,992 1,220.7
West 3,225 1,229.7 3,702 1,427.3
11,105 $2,822.4 13,950 $3,754.2
Year ended September 30,
Units $'s Units $'s
Mid-Atlantic 4,032 $1,009.7 5,072 $1,342.7
Midwest 2,261 634.5 3,093 821.5
Southeast 6,301 1,375.8 8,181 2,036.3
Southwest 18,146 3,086.7 21,375 4,227.8
West 14,523 5,299.5 15,511 6,215.1
45,263 $11,406.2 53,232 $14,643.4
SOURCE D.R. Horton, Inc.
Stacey Dwyer, EVP of D.R. Horton, Inc., +1-817-390-8200
Web site: http://www.DRHORTON.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding D.R. Horton's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.