FORT WORTH, Texas, April 7 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI) Thursday (April 7, 2005), reported the highest quarterly net sales
orders in Company history. Net sales orders for the second quarter ended
March 31, 2005 increased 23% to $4.1 billion (14,401 homes), compared to
$3.3 billion (13,480 homes) for the same quarter of fiscal 2004. Net sales
orders for the first six months of fiscal 2005 increased 26% to $6.8 billion
(24,302 homes), compared to $5.4 billion (21,714 homes) for the same period of
fiscal 2004.
(Logo: http://www.newscom.com/cgi-bin/prnh/20040722/DHILOGO )
Donald R. Horton, Chairman of the Board, said, "We are extremely pleased
with our strong sales performance, with each of our regions reporting net
increases in both homes sold and sales dollars for the quarter. Sales volumes
improved sequentially each month this quarter, with March sales of
$1.5 billion setting a record for the highest monthly sales in Company
history. All of our sales increases are organic. Our strong sales and record
sales backlog position the Company for another record year in fiscal year
2005."
D.R. Horton, Inc., America's Builder, is the largest homebuilder in the
United States, delivering more than 43,000 homes in its fiscal year ended
September 30, 2004. Founded in 1978 in Fort Worth, Texas, D.R. Horton has
expanded its presence to include 63 markets in 21 states in the Midwest, Mid-
Atlantic, Southeast, Southwest and Western 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 $900,000. D.R. Horton also provides
mortgage financing and title services for homebuyers through its mortgage and
title subsidiaries.
Portions of this document may constitute "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995. Although
D.R. Horton believes any such statements are based on reasonable assumptions,
there is no assurance that actual outcomes will not be materially different.
All forward-looking statements are based upon information available to D.R.
Horton on the date this release was issued. D.R. Horton does not undertake
any obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. The
forward-looking statement in this release relates to our strong sales and
record sales backlog positioning the Company for another record year in fiscal
2005. Factors that may cause the actual results to be materially different
from the future results expressed by the forward-looking statements include,
but are not limited to: changes in general economic, real estate and business
conditions; changes in interest rates and the availability of mortgage
financing; warranty and product liability claims; our substantial debt;
governmental regulations and environmental matters; competitive conditions
within the industry; the availability of capital to the Company on favorable
terms; and the Company's ability to integrate acquisitions and successfully
effect the cost savings, operating efficiencies and revenue enhancements that
are believed available and otherwise to successfully effect its other growth
strategies. Additional information about issues that could lead to material
changes in performance is contained in D.R. Horton's annual report on Form
10-K and most recent quarterly reports on Form 10-Q, which are filed with the
Securities and Exchange Commission.
WEBSITE ADDRESS: http://www.DRHORTON.com
D.R. HORTON, INC.
($'s in millions)
NET SALES ORDERS
Three months ended March 31,
2004 2005
Units $'s Units $'s
Mid-Atlantic 1,034 $277.3 1,263 $346.2
Midwest 620 175.1 877 224.4
Southeast 1,758 365.0 1,974 498.0
Southwest 5,435 906.1 5,638 1,109.8
West 4,633 1,610.3 4,649 1,920.2
13,480 $3,333.8 14,401 $4,098.6
Six months ended March 31,
2004 2005
Units $'s Units $'s
Mid-Atlantic 1,749 $444.0 2,300 $623.1
Midwest 1,031 300.3 1,306 349.2
Southeast 2,931 616.6 3,733 908.6
Southwest 8,715 1,460.9 9,576 1,848.6
West 7,288 2,545.7 7,387 3,024.9
21,714 $5,367.5 24,302 $6,754.4
SOURCE D.R. Horton, Inc.
CONTACT: Stacey Dwyer, EVP of D.R. Horton, Inc.
+1-817-390-8200
Web site: http://www.DRHORTON.com
